iBio, Inc. (NASDAQ:IBIO) Receives Average Rating of “Buy” from Brokerages

iBio, Inc. (NASDAQ:IBIO) has earned a consensus rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $4.75.

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. Wall Street Zen raised iBio from a “sell” rating to a “hold” rating in a research report on Saturday. JonesTrading assumed coverage on iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 target price for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of iBio in a research report on Thursday, April 9th.

Insider Buying and Selling

In related news, CFO Felipe Duran acquired 24,835 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of $2.02 per share, with a total value of $50,166.70. Following the acquisition, the chief financial officer owned 35,974 shares of the company’s stock, valued at approximately $72,667.48. This trade represents a 222.96% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.75% of the company’s stock.

Institutional Trading of iBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC increased its holdings in iBio by 51.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after purchasing an additional 1,050,000 shares in the last quarter. EcoR1 Capital LLC purchased a new position in shares of iBio in the 4th quarter worth approximately $4,300,000. Logos Global Management LP purchased a new position in shares of iBio in the 4th quarter worth approximately $3,860,000. Frazier Life Sciences Management L.P. purchased a new position in shares of iBio in the 4th quarter worth approximately $3,770,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of iBio by 10,440.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock worth $2,116,000 after buying an additional 1,085,779 shares during the last quarter. 7.90% of the stock is owned by institutional investors.

iBio Price Performance

Shares of iBio stock opened at $1.90 on Tuesday. iBio has a one year low of $0.56 and a one year high of $3.82. The firm has a market capitalization of $94.39 million, a price-to-earnings ratio of -3.28 and a beta of 1.23. The business has a 50-day simple moving average of $1.87 and a 200 day simple moving average of $1.97.

iBio (NASDAQ:IBIO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). On average, sell-side analysts expect that iBio will post -0.36 EPS for the current year.

iBio Company Profile

iBio, Inc, a biotechnology company, provides contract development and manufacturing services to collaborators and third-party customers in the United States. The company operates in two segments: Biopharmaceuticals and Bioprocessing. Its lead therapeutic candidate is IBIO-100 that is being advanced for investigational new drug development for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis. The company is also developing vaccine candidates comprising IBIO-200 and IBIO-201, which are in preclinical development for the prevention of severe acute respiratory syndrome coronavirus 2; and IBIO-400 for the treatment of classical swine fever.