B. Riley Financial Begins Coverage on iBio (NASDAQ:IBIO)

Stock analysts at B. Riley Financial began coverage on shares of iBio (NASDAQ:IBIO) in a research report issued on Friday. The firm set a “buy” rating and a $6.00 price target on the stock. B. Riley Financial’s target price suggests a potential upside of 210.88% from the stock’s current price.

IBIO has been the subject of a number of other research reports. JonesTrading assumed coverage on shares of iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 target price for the company. Wall Street Zen raised shares of iBio from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of iBio in a research report on Thursday, April 9th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $5.00.

iBio Trading Up 4.9%

iBio stock opened at $1.93 on Friday. The company has a market cap of $95.88 million, a P/E ratio of -3.33 and a beta of 1.26. iBio has a 1-year low of $0.56 and a 1-year high of $3.82. The company has a fifty day simple moving average of $1.85 and a 200 day simple moving average of $2.00.

iBio (NASDAQ:IBIO) last released its earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). On average, equities research analysts forecast that iBio will post -0.38 EPS for the current year.

Insider Activity at iBio

In other news, CFO Felipe Duran acquired 24,835 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $2.02 per share, with a total value of $50,166.70. Following the transaction, the chief financial officer directly owned 35,974 shares in the company, valued at approximately $72,667.48. The trade was a 222.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBIO. EcoR1 Capital LLC bought a new position in shares of iBio in the 4th quarter valued at about $4,300,000. Affinity Asset Advisors LLC bought a new position in shares of iBio in the 4th quarter valued at about $3,970,000. Logos Global Management LP bought a new position in shares of iBio in the 4th quarter valued at about $3,860,000. Frazier Life Sciences Management L.P. bought a new position in shares of iBio in the 4th quarter valued at about $3,770,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of iBio by 10,440.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock worth $2,116,000 after buying an additional 1,085,779 shares during the period. Institutional investors own 7.90% of the company’s stock.

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.