iBio (NYSE:IBIO) Shares Down 1%

iBio, Inc. (NYSE:IBIO) shares were down 1% during trading on Wednesday . The company traded as low as $2.05 and last traded at $2.07. Approximately 124,709 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 2,056,355 shares. The stock had previously closed at $2.09.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Monday, June 3rd. StockNews.com initiated coverage on shares of iBio in a report on Saturday, April 20th. They set a “sell” rating for the company.

iBio Stock Performance

The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $2.13.

iBio (NYSE:IBIO) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.71) earnings per share (EPS) for the quarter. As a group, research analysts predict that iBio, Inc. will post -99.82 earnings per share for the current year.

Hedge Funds Weigh In On iBio

A number of large investors have recently added to or reduced their stakes in IBIO. Opaleye Management Inc. purchased a new position in iBio in the 1st quarter valued at $2,761,000. Lynx1 Capital Management LP purchased a new position in shares of iBio in the first quarter worth about $2,436,000. Finally, Ikarian Capital LLC acquired a new position in iBio during the first quarter worth about $2,436,000. 7.90% of the stock is currently owned by institutional investors and hedge funds.

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.