iBio (NASDAQ:IBIO) Issues Earnings Results, Beats Estimates By $0.03 EPS

iBio (NASDAQ:IBIO) issued its quarterly earnings data on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Zacks reports.

iBio Stock Down 2.9%

Shares of IBIO stock opened at $1.36 on Friday. iBio has a 12-month low of $0.77 and a 12-month high of $3.82. The company has a market capitalization of $67.56 million, a P/E ratio of -2.34 and a beta of 1.30. The firm has a 50-day moving average price of $1.49 and a 200 day moving average price of $1.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IBIO shares. B. Riley Financial initiated coverage on iBio in a research report on Friday, June 5th. They issued a “buy” rating and a $6.00 price objective for the company. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th. Raymond James Financial assumed coverage on iBio in a report on Monday, June 8th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Chardan Capital restated a “buy” rating and set a $5.00 price objective on shares of iBio in a research report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, iBio presently has a consensus rating of “Buy” and an average price target of $5.00.

Institutional Investors Weigh In On iBio

A number of large investors have recently bought and sold shares of IBIO. XTX Topco Ltd bought a new position in iBio in the 4th quarter valued at $71,000. Ikarian Capital LLC lifted its position in iBio by 55.0% during the 4th quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock worth $1,847,000 after buying an additional 339,735 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings 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 worth $2,116,000 after acquiring an additional 1,085,779 shares during the last quarter. Boothbay Fund Management LLC increased its position in iBio by 43.8% in the 4th quarter. Boothbay Fund Management LLC now owns 254,412 shares of the company’s stock valued at $491,000 after acquiring an additional 77,550 shares in the last quarter. Finally, Logos Global Management LP bought a new position in shares of iBio in the fourth quarter worth about $3,860,000. 7.90% of the stock is currently 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.