iBio, Inc. (NYSEAMERICAN:IBIO) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 16,390,000 shares, an increase of 21.0% from the March 31st total of 13,540,000 shares. Based on an average daily volume of 11,290,000 shares, the days-to-cover ratio is presently 1.5 days.
IBIO has been the subject of a number of recent research reports. Zacks Investment Research upgraded iBio from a “sell” rating to a “hold” rating in a research note on Tuesday, April 20th. Cantor Fitzgerald initiated coverage on iBio in a research note on Thursday, January 21st. They set an “overweight” rating and a $3.00 price objective for the company.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of iBio by 112.5% in the fourth quarter. BlackRock Inc. now owns 11,575,051 shares of the biotechnology company’s stock valued at $12,154,000 after acquiring an additional 6,126,946 shares in the last quarter. Northern Trust Corp lifted its position in shares of iBio by 123.5% in the fourth quarter. Northern Trust Corp now owns 1,954,299 shares of the biotechnology company’s stock valued at $2,052,000 after acquiring an additional 1,079,972 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of iBio in the fourth quarter valued at about $1,075,000. Nuveen Asset Management LLC lifted its position in shares of iBio by 89.8% in the fourth quarter. Nuveen Asset Management LLC now owns 542,852 shares of the biotechnology company’s stock valued at $570,000 after acquiring an additional 256,868 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of iBio by 632.1% in the fourth quarter. JPMorgan Chase & Co. now owns 498,147 shares of the biotechnology company’s stock valued at $523,000 after acquiring an additional 430,100 shares in the last quarter. 8.78% of the stock is owned by institutional investors and hedge funds.
iBio (NYSEAMERICAN:IBIO) last issued its quarterly earnings data on Tuesday, February 16th. The biotechnology company reported ($0.04) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). iBio had a negative return on equity of 55.71% and a negative net margin of 1,005.62%. The company had revenue of $0.71 million during the quarter.
iBio, Inc, a biotechnology company, provides contract development and manufacturing services to collaborators and third-party customers in the United States. Its lead therapeutic candidate is IBIO-100 that is being advanced for investigational new drug development for the treatment of systemic scleroderma, idiopathic pulmonary fibrosis, and related conditions.
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