International Biotechnology (LON:IBT) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• International Biotechnology (LON:IBT) shares surpassed the 200-day moving average, reaching a price of GBX 674 ($9.10) on Friday, with a peak of GBX 678 ($9.15).
• The company has a current market capitalization of £231.09 million and a notably high P/E ratio of 1,394.29.
• International Biotechnology aims for long-term capital growth by investing in diversified companies in the biotechnology and life sciences sectors with promising growth potential.

International Biotechnology (LON:IBT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 618.63 ($8.29) and traded as high as GBX 678 ($9.08). International Biotechnology shares last traded at GBX 674 ($9.03), with a volume of 75,119 shares trading hands.

International Biotechnology Stock Performance

The company has a market capitalization of £237.27 million, a PE ratio of 1,431.53 and a beta of 0.21. The stock's fifty day simple moving average is GBX 640.77 and its 200-day simple moving average is GBX 617.65.

About International Biotechnology

The Company's investment objective is to achieve long-term capital growth by investing in biotechnology and other life sciences companies. The Company will seek to achieve its objective by investing in a diversified portfolio of companies which may be quoted or unquoted and whose shares are considered to have good growth prospects, with experienced management and strong potential upside through the development and/or commercialisation of a product, device or enabling technology.