iBio (NYSE:IBIO) Shares Down 3.3% – Here’s Why

Shares of iBio, Inc. (NYSE:IBIO) dropped 3.3% on Wednesday . The company traded as low as $3.66 and last traded at $3.76. Approximately 649,008 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 348,649 shares. The stock had previously closed at $3.89.

iBio Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 1.76. The stock’s fifty day moving average is $2.98 and its two-hundred day moving average is $2.56.

Insider Buying and Selling

In other iBio news, Director David Arkowitz acquired 18,382 shares of iBio stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $2.72 per share, for a total transaction of $49,999.04. Following the transaction, the director now owns 18,382 shares in the company, valued at approximately $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 through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On iBio

A hedge fund recently raised its stake in iBio stock. Geode Capital Management LLC raised its position in shares of iBio, Inc. (NYSE:IBIO) by 52.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,797 shares of the company’s stock after purchasing an additional 28,775 shares during the quarter. Geode Capital Management LLC owned 0.85% of iBio worth $205,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.