The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. iBio Inc shares valued at $1,296 were sold by Brenner Martin on Nov 01 ’23. At $0.27 per share, Brenner Martin sold 4,881 shares. The insider’s holdings dropped to 182,502 shares worth approximately $0.37 million following the completion of this transaction.
Also, Brenner Martin sold 5,267 shares, netting a total of over 1,592 in proceeds. Following the sale of shares at $0.30 each, the insider now holds 187,383 shares.
Before that, Brenner Martin had sold 4,215 shares from its account. In a trade valued at $1,311, the insider traded iBio Inc shares for $0.31 each. Upon closing the transaction, the insider’s holdings decreased to 4,215 shares, worth approximately $0.39 million.
As published in their initiating research note from JMP Securities on November 29, 2021, iBio Inc [IBIO] has been a Mkt outperform and the price target has been revised to $1.50. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in late January. As of June 26, 2020, Alliance Global Partners has initiated its “Buy” rating for IBIO.
Analyzing IBIO Stock Performance
During the last five days, there has been a drop of approximately -31.29%. Over the course of the year, iBio Inc shares have jumped approximately 47.45%. Shares of the company reached a 52-week high of $4.98 on 03/28/24 and a 52-week low of $1.02 on 01/18/24. A 50-day SMA is recorded $1.48, while a 200-day SMA reached $4.89. Nevertheless, trading volume fell to 0.78 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for iBio Inc (IBIO)
According to the 24-hour chart, there is a support level at 1.90, which, if violated, would cause prices to drop to 1.78. In the upper region, resistance lies at 2.23. The next price resistance is at 2.43. RSI (Relative Strength Index) is 51.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 75.70%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is iBio Inc subject to short interest?
Stocks of iBio Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 45330.0 shares to 59320.0. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 13990.0 shares. A jump of 76.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.43.
