Chardan Capital Reiterates Buy Rating for iBio (NYSE:IBIO)

Chardan Capital reiterated their buy rating on shares of iBio (NYSE:IBIO) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $5.00 target price on the stock.

Separately, Wall Street Zen upgraded iBio to a “sell” rating in a research note on Tuesday, March 18th.

iBio Trading Up 6.3%

Shares of NYSE:IBIO opened at $0.76 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 1.76. The business has a fifty day moving average price of $0.85 and a two-hundred day moving average price of $2.43. iBio has a 1 year low of $0.64 and a 1 year high of $6.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IBIO. Cubist Systematic Strategies LLC bought a new position in shares of iBio during the 1st quarter worth $224,000. Iridian Asset Management LLC CT bought a new position in shares of iBio during the 1st quarter worth $234,000. Finally, Geode Capital Management LLC grew its stake in shares of iBio by 52.3% during the 4th quarter. Geode Capital Management LLC now owns 83,797 shares of the company’s stock worth $205,000 after acquiring an additional 28,775 shares during the period. Institutional investors own 7.90% of the company’s stock.

iBio Company Profile

iBio, Inc, a biotechnology company, engages in the development of precision antibodies in the United States. It offers IBIO-100, a preclinical anti-fibrotic program for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis; and EngageTx platform, which provides an optimized CD3 T-cell engager antibody panel.