5 Low Float Stocks With High Volume

4. iBio, Inc. (NYSE:IBIO)

Number of Hedge Fund Holders: 3

Shares Float: 8.9 million

Avg Volume for 10 days: 594,000

iBio, Inc. (NYSE:IBIO) is a biotechnology company that provides contract development and manufacturing services to collaborators and third-party customers in the United States. On December 7, the share price of the firm slid by more than 30% after it priced it’s previously announced underwritten public offering of an aggregate of 3,365,385 shares of its common stock, Series A warrants to purchase up to 3,365,385 shares of common stock. 

At the end of the third quarter of 2022, 3 hedge funds in the database of Insider Monkey held stakes worth $666,000 in iBio, Inc. (NYSE:IBIO), compared to 4 in the previous quarter worth $1.7 million.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in iBio, Inc. (NYSE:IBIO) with 2.4 million shares worth more than $414,000.