iBio, Inc. (NASDAQ:IBIO) Stock Has Consensus Price Target of $6.00

iBio, Inc. (NASDAQ:IBIO) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.00.

Several research analysts have recently issued reports on IBIO shares. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a research report on Sunday, September 13th. Chardan Capital reiterated a “buy” rating and issued a $5.00 price objective on shares of iBio in a report on Thursday, July 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research note on Monday, September 21st. Finally, HC Wainwright initiated coverage on iBio in a report on Thursday, September 17th. They set a “buy” rating and a $7.00 target price on the stock.

iBio Trading Down 6.7%

NASDAQ:IBIO opened at $0.78 on Friday. The stock has a market capitalization of $50.42 million, a P/E ratio of -2.31 and a beta of 1.26. iBio has a 1 year low of $0.73 and a 1 year high of $3.82. The firm has a 50 day moving average of $1.18 and a 200-day moving average of $1.50.

iBio (NASDAQ:IBIO) last issued its quarterly earnings results on Friday, August 28th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. As a group, analysts forecast that iBio will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On iBio

Several hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new position in shares of iBio during the second quarter worth $873,000. Headlands Technologies LLC increased its position in shares of iBio by 333.0% in the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock valued at $83,000 after buying an additional 36,463 shares in the last quarter. Bank of America Corp DE raised its stake in iBio by 150.8% during the 1st quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock worth $552,000 after buying an additional 174,620 shares during the period. ADAR1 Capital Management LLC raised its stake in iBio by 15.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 469,878 shares of the company’s stock worth $893,000 after buying an additional 64,347 shares during the period. Finally, Affinity Asset Advisors LLC raised its stake in iBio by 51.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after buying an additional 1,050,000 shares during the period. 7.90% of the stock is currently owned by institutional investors and hedge funds.

About iBio

iBio, Inc is a biotechnology company focused on the discovery and development of next-generation biotherapeutics. The company uses artificial intelligence, machine learning and computational biology to identify promising antibody candidates, characterize their target epitopes and support the design of potentially differentiated medicines.

iBio’s technology platform is designed to help address challenges in antibody discovery and development, including selecting suitable biological targets and engineering antibodies with desired characteristics.