iBio (NASDAQ:IBIO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of iBio (NASDAQ:IBIO) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other equities analysts also recently weighed in on IBIO. B. Riley Financial initiated coverage on iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Raymond James Financial began coverage on iBio in a research note on Monday, June 8th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Chardan Capital reissued a “buy” rating and set a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, iBio has a consensus rating of “Buy” and an average target price of $5.00.

iBio Stock Performance

Shares of IBIO stock opened at $1.45 on Friday. The firm’s 50-day moving average is $1.53 and its 200-day moving average is $1.88. The stock has a market cap of $72.04 million, a price-to-earnings ratio of -2.50 and a beta of 1.31. iBio has a 52-week low of $0.67 and a 52-week high of $3.82.

Institutional Trading of iBio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new position in iBio in the 3rd quarter valued at about $37,000. PFG Investments LLC acquired a new stake in iBio during the fourth quarter worth approximately $41,000. XTX Topco Ltd bought a new stake in shares of iBio during the fourth quarter worth approximately $71,000. Persistent Asset Partners Ltd bought a new stake in shares of iBio during the fourth quarter worth approximately $76,000. Finally, Citadel Advisors LLC acquired a new position in shares of iBio in the third quarter valued at approximately $109,000. Institutional investors own 7.90% of the company’s stock.

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.