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

iBio (NASDAQ:IBIO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts also recently commented on the company. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of iBio in a research note on Thursday, July 2nd. Raymond James Financial initiated coverage on iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 price objective on the stock. B. Riley Financial began coverage on iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $5.00.

iBio Stock Performance

NASDAQ IBIO opened at $1.43 on Friday. The company has a market capitalization of $71.04 million, a PE ratio of -2.47 and a beta of 1.30. The business’s fifty day moving average is $1.53 and its 200 day moving average is $1.89. iBio has a fifty-two week low of $0.67 and a fifty-two week high of $3.82.

Institutional Investors Weigh In On iBio

A number of institutional investors have recently bought and sold shares of the business. PFG Investments LLC bought a new stake in iBio during the fourth quarter valued at about $41,000. XTX Topco Ltd bought a new position in shares of iBio in the fourth quarter worth about $71,000. Persistent Asset Partners Ltd bought a new position in shares of iBio in the fourth quarter worth about $76,000. Susquehanna International Group LLP purchased a new stake in shares of iBio during the third quarter worth about $37,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of iBio during the first quarter worth about $224,000. Hedge funds and other 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.