2,228,000 Shares in iBio, Inc. $IBIO Bought by EcoR1 Capital LLC

EcoR1 Capital LLC bought a new position in shares of iBio, Inc. (NASDAQ:IBIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,228,000 shares of the company’s stock, valued at approximately $4,300,000. iBio comprises 0.2% of EcoR1 Capital LLC’s portfolio, making the stock its 25th biggest position. EcoR1 Capital LLC owned about 6.45% of iBio at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PFG Investments LLC bought a new position in shares of iBio during the fourth quarter worth $41,000. Persistent Asset Partners Ltd bought a new position in shares of iBio during the fourth quarter worth $76,000. Susquehanna International Group LLP bought a new position in shares of iBio during the third quarter worth $37,000. Cubist Systematic Strategies LLC bought a new position in shares of iBio during the first quarter worth $224,000. Finally, Mountain Capital Investment Advisors Inc. bought a new position in shares of iBio during the fourth quarter worth $122,000. Institutional investors own 7.90% of the company’s stock.

iBio Stock Up 3.2%

IBIO stock opened at $1.60 on Thursday. iBio, Inc. has a 52 week low of $0.56 and a 52 week high of $3.82. The company has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $2.03. The firm has a market capitalization of $79.49 million, a P/E ratio of -2.76 and a beta of 1.26.

iBio (NASDAQ:IBIO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, analysts anticipate that iBio, Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IBIO. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. JonesTrading began coverage on shares of iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 target price for the company. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of iBio in a research report on Thursday, April 9th. B. Riley Financial began coverage on shares of iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 target price for the company. Finally, Raymond James Financial began coverage on shares of iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price for the company. Three equities research 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $5.00.

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.