iBio (NASDAQ:IBIO) Announces Earnings Results, Misses Estimates By $0.01 EPS

iBio (NASDAQ:IBIO) issued its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Zacks reports.

iBio Stock Performance

IBIO opened at $1.55 on Thursday. The stock has a market capitalization of $56.02 million, a price-to-earnings ratio of -2.67 and a beta of 1.23. The company has a fifty day moving average of $2.05 and a 200 day moving average of $1.95. iBio has a fifty-two week low of $0.56 and a fifty-two week high of $3.82.

Analyst Ratings Changes

A number of analysts have commented on IBIO shares. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a report on Thursday, April 9th. JonesTrading initiated coverage on shares of iBio in a research note on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target on the stock. Wall Street Zen raised shares of iBio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research note on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $4.75.

Insider Transactions at iBio

In related news, CFO Felipe Duran acquired 24,835 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was acquired at an average price of $2.02 per share, with a total value of $50,166.70. Following the acquisition, the chief financial officer directly owned 35,974 shares of the company’s stock, valued at approximately $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On iBio

Several large investors have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new position in iBio during the third quarter valued at approximately $37,000. XTX Topco Ltd bought a new stake in iBio in the 4th quarter worth approximately $71,000. Persistent Asset Partners Ltd purchased a new stake in shares of iBio during the 4th quarter worth approximately $76,000. Citadel Advisors LLC purchased a new stake in shares of iBio during the 3rd quarter worth approximately $109,000. Finally, State Street Corp boosted its position in shares of iBio by 116.3% during the 4th quarter. State Street Corp now owns 72,899 shares of the company’s stock valued at $141,000 after acquiring an additional 39,200 shares during the last quarter. 7.90% of the stock is owned by institutional investors.

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.