iBio, Inc. (NASDAQ:IBIO) Given Consensus Rating of “Buy” by Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have been given an average recommendation of “Buy” by the eight research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.00.

A number of research analysts have recently commented on IBIO shares. Chardan Capital reissued a “buy” rating and set a $5.00 price target on shares of iBio in a report on Thursday, July 2nd. Raymond James Financial started coverage on iBio in a report on Monday, June 8th. They issued an “outperform” rating and a $5.00 price target on the stock. Wall Street Zen lowered shares of iBio from a “hold” rating to a “sell” rating in a research note on Sunday. B. Riley Financial started coverage on iBio in a report on Friday, June 5th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th.

iBio Trading Down 0.7%

Shares of iBio stock opened at $1.44 on Wednesday. iBio has a twelve month low of $0.56 and a twelve month high of $3.82. The business’s 50 day simple moving average is $1.68 and its 200-day simple moving average is $2.01. The stock has a market capitalization of $71.54 million, a price-to-earnings ratio of -2.48 and a beta of 1.27.

iBio (NASDAQ:IBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Sell-side analysts predict that iBio will post -0.36 earnings per share for the current year.

Institutional Trading of iBio

A number of institutional investors have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC lifted its stake in shares of iBio by 10.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after purchasing an additional 17,414 shares during the last quarter. PFG Investments LLC acquired a new position in shares of iBio during the 4th quarter worth about $41,000. XTX Topco Ltd bought a new stake in shares of iBio in the fourth quarter valued at approximately $71,000. State Street Corp boosted its holdings in iBio by 116.3% in the 4th quarter. State Street Corp now owns 72,899 shares of the company’s stock valued at $141,000 after purchasing an additional 39,200 shares during the period. Finally, Persistent Asset Partners Ltd bought a new stake in shares of iBio in the fourth quarter valued at about $76,000. 7.90% of the stock is currently owned by institutional investors and hedge funds.

iBio Company Profile

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.