iBio (NYSE:IBIO) Shares Down 0.6% – Time to Sell?

iBio, Inc. (NYSE:IBIO)’s stock price dropped 0.6% during mid-day trading on Monday . The stock traded as low as $2.44 and last traded at $2.55. Approximately 63,470 shares were traded during trading, a decline of 95% from the average daily volume of 1,196,850 shares. The stock had previously closed at $2.56.

Analysts Set New Price Targets

Separately, Brookline Capital Management initiated coverage on iBio in a research report on Monday, July 22nd. They issued a “buy” rating and a $3.60 price objective on the stock.

iBio Trading Down 9.0 %

The company’s fifty day moving average is $2.37 and its two-hundred day moving average is $2.19. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 0.04.

Institutional Trading of iBio

Institutional investors and hedge funds have recently modified their holdings of the stock. Lynx1 Capital Management LP acquired a new position in shares of iBio in the 1st quarter valued at approximately $2,436,000. Opaleye Management Inc. acquired a new position in shares of iBio in the first quarter valued at approximately $2,761,000. Finally, Ikarian Capital LLC bought a new stake in shares of iBio during the first quarter worth $2,436,000. 7.90% of the stock is owned by institutional investors.

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.