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

iBio (NYSE:IBIO)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $5.00 price objective on the stock.

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

iBio Price Performance

NYSE:IBIO opened at $0.71 on Wednesday. iBio has a 12 month low of $0.64 and a 12 month high of $6.89. The stock has a 50 day moving average of $0.86 and a two-hundred day moving average of $2.45. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On iBio

A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of iBio in the first quarter valued at approximately $224,000. Iridian Asset Management LLC CT purchased a new position in iBio in the first quarter worth approximately $234,000. Finally, Geode Capital Management LLC grew its position in iBio by 52.3% in the fourth 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. 7.90% of the stock is currently owned by hedge funds and other institutional investors.

About iBio

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.