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

iBio, Inc. (NASDAQ:IBIO) has received a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $4.75.

Several equities analysts recently issued reports on IBIO shares. JonesTrading assumed coverage on iBio in a research note on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. Chardan Capital reissued a “buy” rating and set a $5.00 price objective on shares of iBio in a report on Thursday, April 9th. Finally, Wall Street Zen upgraded iBio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th.

Insiders Place Their Bets

In other iBio news, CFO Felipe Duran purchased 24,835 shares of the stock in a transaction on Thursday, March 19th. The shares were purchased at an average price of $2.02 per share, with a total value of $50,166.70. Following the acquisition, the chief financial officer directly owned 35,974 shares of the company’s stock, valued at $72,667.48. This represents a 222.96% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On iBio

Hedge funds and other institutional investors have recently made changes to their positions in the business. EcoR1 Capital LLC acquired a new stake in shares of iBio during the 4th quarter valued at about $4,300,000. Affinity Asset Advisors LLC acquired a new position in iBio in the fourth quarter worth about $3,970,000. Logos Global Management LP bought a new position in iBio during the fourth quarter worth about $3,860,000. Frazier Life Sciences Management L.P. bought a new position in iBio during the fourth quarter worth about $3,770,000. Finally, Balyasny Asset Management L.P. boosted its holdings in iBio by 10,440.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,085,779 shares in the last quarter. 7.90% of the stock is owned by institutional investors.

iBio Price Performance

NASDAQ IBIO opened at $1.69 on Friday. The company’s fifty day moving average is $2.20 and its two-hundred day moving average is $1.92. iBio has a 52-week low of $0.56 and a 52-week high of $3.82. The firm has a market capitalization of $61.08 million, a price-to-earnings ratio of -1.69 and a beta of 1.36.

iBio (NASDAQ:IBIO) last announced its quarterly earnings data on Tuesday, February 10th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). As a group, sell-side analysts expect that iBio will post -0.32 earnings per share for the current fiscal year.

About iBio

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.