iBio (NASDAQ:IBIO) Rating Increased to Hold at 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 note issued to investors on Saturday.

IBIO has been the topic of several other research reports. B. Riley Financial began coverage on iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of iBio in a research note on Thursday. Raymond James Financial assumed coverage on iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, iBio currently has an average rating of “Buy” and an average price target of $5.00.

iBio Stock Performance

Shares of NASDAQ IBIO opened at $1.68 on Friday. iBio has a 1 year low of $0.56 and a 1 year high of $3.82. The firm’s 50 day moving average price is $1.70 and its 200 day moving average price is $2.03. The firm has a market cap of $83.46 million, a P/E ratio of -2.90 and a beta of 1.27.

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

Institutional Trading of iBio

Several institutional investors have recently made changes to their positions in IBIO. Affinity Asset Advisors LLC increased its holdings in shares of iBio by 51.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after buying an additional 1,050,000 shares during the last quarter. EcoR1 Capital LLC acquired a new position in iBio in the fourth quarter valued at $4,300,000. Logos Global Management LP acquired a new position in iBio in the fourth quarter valued at $3,860,000. Frazier Life Sciences Management L.P. purchased a new stake in iBio during the fourth quarter valued at about $3,770,000. Finally, Balyasny Asset Management L.P. grew its position in iBio by 10,440.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock valued at $2,116,000 after acquiring an additional 1,085,779 shares during the period. 7.90% of the stock is owned by hedge funds and other 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.