iBio (NASDAQ:IBIO) CFO Felipe Duran Purchases 24,835 Shares

iBio, Inc. (NASDAQ:IBIO) CFO Felipe Duran acquired 24,835 shares of the stock in a transaction on 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 completion of the acquisition, the chief financial officer directly owned 35,974 shares of the company’s stock, valued at $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

iBio Stock Performance

iBio stock opened at $2.11 on Monday. iBio, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $4.86. The firm’s 50 day moving average price is $2.38. The company has a market cap of $72.72 million, a PE ratio of -2.11 and a beta of 1.18.

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

Analysts Set New Price Targets

IBIO has been the topic of a number of research reports. Wall Street Zen cut shares of iBio from a “hold” rating to a “sell” rating in a report on Saturday. Lifesci Capital raised shares of iBio to a “strong-buy” rating in a research report on Thursday, December 18th. JonesTrading assumed coverage on shares of iBio in a research note on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price objective on the stock. Chardan Capital restated a “buy” rating and issued a $5.00 price objective on shares of iBio in a report on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research note on Monday, December 29th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $4.75.

Hedge Funds Weigh In On iBio

Several institutional investors and hedge funds have recently modified their holdings of IBIO. Boothbay Fund Management LLC raised its position 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 worth $146,000 after purchasing an additional 17,414 shares during the last quarter. State Street Corp grew its position in iBio by 116.3% during 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 last quarter. Citadel Advisors LLC bought a new stake in iBio during the 3rd quarter valued at about $109,000. Persistent Asset Partners Ltd bought a new stake in iBio during the 4th quarter valued at about $76,000. Finally, XTX Topco Ltd purchased a new position in iBio in the fourth quarter worth about $71,000. 7.90% of the stock is currently owned by institutional investors.

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.