Martin Brenner Purchases 12,336 Shares of iBio (NASDAQ:IBIO) Stock

iBio, Inc. (NASDAQ:IBIO) insider Martin Brenner purchased 12,336 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of $2.02 per share, with a total value of $24,918.72. Following the acquisition, the insider owned 30,652 shares of the company’s stock, valued at approximately $61,917.04. The trade was a 67.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

iBio Stock Up 0.2%

NASDAQ:IBIO opened at $2.11 on Monday. The firm has a market capitalization of $72.72 million, a P/E ratio of -2.11 and a beta of 1.18. iBio, Inc. has a 12 month low of $0.56 and a 12 month high of $4.86. The business’s fifty day moving average is $2.38.

iBio (NASDAQ:IBIO) last released its earnings results on Tuesday, February 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

Hedge Funds Weigh In On iBio

Several institutional investors and hedge funds have recently modified their holdings of IBIO. PFG Investments LLC purchased a new stake in shares of iBio in the fourth quarter worth about $41,000. XTX Topco Ltd purchased a new position in iBio during the fourth quarter valued at approximately $71,000. Persistent Asset Partners Ltd purchased a new position in iBio during the fourth quarter valued at approximately $76,000. Susquehanna International Group LLP acquired a new position in iBio in the third quarter valued at approximately $37,000. Finally, Cubist Systematic Strategies LLC acquired a new position in iBio in the first quarter valued at approximately $224,000. Institutional investors and hedge funds own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IBIO shares. Lifesci Capital upgraded iBio to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a report on Saturday. JonesTrading began coverage on shares of iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of iBio in a report on Wednesday, March 18th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, iBio has an average rating of “Buy” and a consensus price target of $4.75.

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.