JonesTrading Begins Coverage on iBio (NYSE:IBIO)

Equities researchers at JonesTrading started coverage on shares of iBio (NYSE:IBIO) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. JonesTrading’s price objective would suggest a potential upside of 160.22% from the stock’s previous close.

Separately, Chardan Capital reissued a “buy” rating and set a $5.00 price target on shares of iBio in a report on Thursday, February 12th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $4.75.

iBio Trading Down 4.6%

Shares of IBIO stock opened at $2.69 on Tuesday. The firm has a 50 day moving average price of $2.26 and a two-hundred day moving average price of $1.53. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $92.92 million, a PE ratio of -2.69 and a beta of 1.26. iBio has a 12-month low of $0.56 and a 12-month high of $6.89.

Institutional Investors Weigh In On iBio

A number of hedge funds and other institutional investors have recently made changes to their positions in IBIO. XTX Topco Ltd acquired a new stake in iBio during the fourth quarter worth approximately $71,000. Ikarian Capital LLC lifted its position in shares of iBio by 55.0% during the 4th quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock valued at $1,847,000 after acquiring an additional 339,735 shares during the period. EcoR1 Capital LLC acquired a new stake in shares of iBio during the 4th quarter worth $4,300,000. Balyasny Asset Management L.P. increased its position in shares of iBio by 10,440.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock worth $2,116,000 after purchasing an additional 1,085,779 shares during the period. Finally, Boothbay Fund Management LLC increased its position in shares of iBio by 43.8% in the fourth quarter. Boothbay Fund Management LLC now owns 254,412 shares of the company’s stock worth $491,000 after purchasing an additional 77,550 shares during the period. 7.90% of the stock is currently owned by institutional investors and hedge funds.

iBio Company Profile

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.