JonesTrading Initiates Coverage on iBio (NYSE:IBIO)

Analysts at JonesTrading started coverage on shares of iBio (NYSE:IBIO) in a research note issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. JonesTrading’s price target suggests a potential upside of 147.35% from the stock’s previous close.

Separately, Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, iBio has a consensus rating of “Buy” and a consensus price target of $4.75.

iBio Stock Performance

Shares of NYSE IBIO opened at $2.83 on Tuesday. iBio has a 1 year low of $0.56 and a 1 year high of $6.89. The firm has a market cap of $97.76 million, a P/E ratio of -2.83 and a beta of 1.26. The stock has a fifty day moving average price of $2.30 and a two-hundred day moving average price of $1.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 1.76.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PFG Investments LLC acquired a new position in shares of iBio during the 4th quarter worth $41,000. XTX Topco Ltd bought a new stake in iBio in the fourth quarter worth $71,000. Persistent Asset Partners Ltd acquired a new position in iBio during the fourth quarter worth $76,000. Susquehanna International Group LLP bought a new position in iBio during the third quarter valued at about $37,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of iBio in the first quarter worth about $224,000. 7.90% of the stock is owned by institutional investors and hedge funds.

About iBio

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.