iBio (NASDAQ:IBIO) Posts Earnings Results, Misses Expectations By $0.01 EPS

iBio (NASDAQ:IBIO) released its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Zacks reports.

iBio Price Performance

iBio stock opened at $1.55 on Thursday. The company has a market cap of $56.02 million, a PE ratio of -2.67 and a beta of 1.23. The company has a fifty day moving average price of $2.05 and a two-hundred day moving average price of $1.95. iBio has a 12 month low of $0.56 and a 12 month high of $3.82.

Insider Buying and Selling

In other iBio 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 price of $2.02 per share, with a total value of $50,166.70. Following the completion of the acquisition, the chief financial officer directly owned 35,974 shares in the company, valued at $72,667.48. This trade represents a 222.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On iBio

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in iBio in the fourth quarter worth $71,000. Persistent Asset Partners Ltd acquired a new position in iBio in the fourth quarter worth $76,000. Susquehanna International Group LLP acquired a new position in iBio in the third quarter worth $37,000. Cubist Systematic Strategies LLC acquired a new position in iBio in the first quarter worth $224,000. Finally, State Street Corp boosted its holdings in iBio by 116.3% in the fourth quarter. State Street Corp now owns 72,899 shares of the company’s stock worth $141,000 after purchasing an additional 39,200 shares during the period. Institutional investors and hedge funds own 7.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IBIO. JonesTrading began coverage on shares of iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target for the company. Wall Street Zen raised shares of iBio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Chardan Capital reissued a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Thursday, April 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $4.75.

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.