EcoR1 Capital LLC Takes $4.30 Million Position in iBio, Inc. $IBIO

EcoR1 Capital LLC bought a new stake in iBio, Inc. (NASDAQ:IBIO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,228,000 shares of the company’s stock, valued at approximately $4,300,000. iBio accounts for about 0.2% of EcoR1 Capital LLC’s portfolio, making the stock its 25th biggest position. EcoR1 Capital LLC owned about 0.06% of iBio at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Susquehanna International Group LLP purchased a new stake in shares of iBio in the third quarter valued at $37,000. PFG Investments LLC purchased a new stake in shares of iBio in the fourth quarter valued at $41,000. Persistent Asset Partners Ltd purchased a new stake in shares of iBio in the fourth quarter valued at $76,000. Citadel Advisors LLC purchased a new stake in shares of iBio in the third quarter valued at $109,000. Finally, Mountain Capital Investment Advisors Inc. purchased a new stake in shares of iBio in the fourth quarter valued at $122,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

Analyst Upgrades and Downgrades

IBIO has been the topic of several recent analyst reports. Raymond James Financial initiated coverage on shares of iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 target price on the stock. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. B. Riley Financial initiated coverage on shares of iBio in a research note on Friday, June 5th. They issued a “buy” rating and a $6.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $5.00 target price on shares of iBio in a research note on Thursday, April 9th. Finally, Weiss Ratings reissued 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, four have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $5.00.

iBio Price Performance

IBIO stock opened at $1.60 on Thursday. The company has a market capitalization of $79.49 million, a PE ratio of -2.76 and a beta of 1.26. iBio, Inc. has a 12 month low of $0.56 and a 12 month high of $3.82. The firm’s 50-day moving average is $1.80 and its 200 day moving average is $2.03.

iBio (NASDAQ:IBIO) last posted its quarterly 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). Sell-side analysts forecast that iBio, Inc. will post -0.36 EPS for the current fiscal year.

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.