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

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

Several other analysts have also recently weighed in on the company. JonesTrading assumed coverage on iBio in a report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th. Finally, Chardan Capital restated a “buy” rating and set a $5.00 price target on shares of iBio in a report on Thursday, April 9th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.75.

iBio Stock Down 1.6%

iBio stock opened at $1.90 on Friday. iBio has a 12-month low of $0.56 and a 12-month high of $3.82. The business’s 50-day moving average price is $1.87 and its two-hundred day moving average price is $1.97. The stock has a market cap of $94.39 million, a PE ratio of -3.28 and a beta of 1.23.

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

Insider Transactions at iBio

In other news, CFO Felipe Duran purchased 24,835 shares of the stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $2.02 per share, for a total transaction of $50,166.70. Following the acquisition, the chief financial officer owned 35,974 shares in the company, valued at $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.75% of the company’s stock.

Hedge Funds Weigh In On iBio

A number of institutional investors and hedge funds have recently modified their holdings of IBIO. EcoR1 Capital LLC bought a new position in shares of iBio during the 4th quarter worth approximately $4,300,000. Affinity Asset Advisors LLC bought a new position in shares of iBio during the 4th quarter worth approximately $3,970,000. Logos Global Management LP bought a new position in shares of iBio during the 4th quarter worth approximately $3,860,000. Frazier Life Sciences Management L.P. bought a new position in shares of iBio during the 4th quarter worth approximately $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 in the last quarter. 7.90% of the stock is currently owned by institutional investors.

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.