iBio (NASDAQ:IBIO) Upgraded by Wall Street Zen to Hold Rating

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

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research note on Friday, March 27th. Lifesci Capital raised shares of iBio to a “strong-buy” rating in a research report on Thursday, December 18th. JonesTrading began coverage on iBio in a research note 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 Wednesday, March 18th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, iBio presently has an average rating of “Buy” and an average target price of $4.75.

iBio Price Performance

iBio stock opened at $1.98 on Friday. The company has a market cap of $68.39 million, a PE ratio of -1.98 and a beta of 1.36. iBio has a 52-week low of $0.56 and a 52-week high of $3.95. The stock’s 50 day simple moving average is $2.30.

iBio (NASDAQ:IBIO) last released its quarterly earnings data on Tuesday, February 10th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

Insider Buying and Selling

In other iBio news, CFO Felipe Duran acquired 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, for a total transaction of $50,166.70. Following the completion of the acquisition, the chief financial officer owned 35,974 shares in the company, valued at approximately $72,667.48. This represents a 222.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new stake in shares of iBio in the 3rd quarter worth about $37,000. PFG Investments LLC acquired a new position in iBio during the 4th quarter valued at about $41,000. XTX Topco Ltd acquired a new position in iBio during the 4th quarter valued at about $71,000. Persistent Asset Partners Ltd bought a new stake in iBio during the 4th quarter worth approximately $76,000. Finally, Citadel Advisors LLC bought a new stake in iBio during the 3rd quarter worth approximately $109,000. 7.90% of the stock is currently owned by institutional investors and hedge funds.

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.