StockNews.com Upgrades iBio (NYSE:IBIO) to “Sell”

StockNews.com upgraded shares of iBio (NYSE:IBIO) to a sell rating in a research note issued to investors on Tuesday.

iBio Trading Down 7.0 %

Shares of IBIO opened at $4.52 on Tuesday. The stock has a 50 day simple moving average of $3.85 and a two-hundred day simple moving average of $2.92. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.05. iBio has a 1 year low of $1.05 and a 1 year high of $6.89.

Insiders Place Their Bets

In related news, Director David Arkowitz acquired 18,382 shares of the stock in a transaction on Friday, January 10th. The stock was purchased at an average price of $2.72 per share, for a total transaction of $49,999.04. Following the completion of the transaction, the director now owns 18,382 shares of the company’s stock, valued at $49,999.04. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

Institutional Trading of iBio

A hedge fund recently raised its stake in iBio stock. Geode Capital Management LLC lifted its holdings in shares of iBio, Inc. (NYSE:IBIO) by 52.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,797 shares of the company’s stock after acquiring an additional 28,775 shares during the quarter. Geode Capital Management LLC owned approximately 0.85% of iBio worth $205,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 7.90% of the company’s stock.

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.