iBio, Inc. (NASDAQ:IBIO) Given Consensus Rating of “Buy” by Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.00.

IBIO has been the topic of a number of recent research reports. Chardan Capital reissued a “buy” rating and issued a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. B. Riley Financial initiated coverage on shares of iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Raymond James Financial started coverage on iBio in a report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a report on Sunday.

iBio Stock Performance

Shares of IBIO stock opened at $1.44 on Wednesday. The firm has a market cap of $71.54 million, a price-to-earnings ratio of -2.48 and a beta of 1.27. iBio has a 1 year low of $0.56 and a 1 year high of $3.82. The stock’s 50-day moving average is $1.68 and its two-hundred day moving average is $2.01.

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

Institutional Trading of iBio

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EcoR1 Capital LLC purchased a new stake in iBio during the fourth quarter valued at about $4,300,000. Affinity Asset Advisors LLC acquired a new stake in iBio in the fourth quarter valued at approximately $3,970,000. Logos Global Management LP acquired a new stake in iBio during the 4th quarter valued at $3,860,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of iBio during the fourth quarter valued at about $3,770,000. Finally, Balyasny Asset Management L.P. grew its stake in 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 valued at $2,116,000 after purchasing an additional 1,085,779 shares in the last quarter. 7.90% of the stock is currently owned by institutional investors and hedge funds.

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.