The stock of International Biotechnology Trust Plc (LON:IBT) hit a new 52-week high and has GBX 584.22 target or 4.00% above today’s GBX 561.75 share price. The 5 months bullish chart indicates low risk for the GBX 210.92 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the GBX 584.22 price target is reached, the company will be worth GBX 8.44 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 1.06% or GBX 6 on November 23, hitting GBX 561.75. About 42,750 shares traded hands. International Biotechnology Trust Plc (LON:IBT) has risen 11.62% since April 11, 2016 and is uptrending. It has outperformed by 6.29% the S&P500.
Another recent and important International Biotechnology Trust Plc (LON:IBT) news was published by Marketwatch.com which published an article titled: “Knowlton Capital provides update on proposed reverse take-over with Leni Gas …” on May 27, 2016.
International Biotechnology Trust plc is an investment trust company. The company has a market cap of 210.92 million GBP. The Company’s investment objective is to achieve long-term capital growth by investing in biotechnology and other life sciences companies. It currently has negative earnings. The Firm 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 growth prospects, with experienced management and strong potential upside through the development and/or commercialization of a product, device or enabling technology.
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