Brokerages Set iBio, Inc. (NASDAQ:IBIO) PT at $4.75

Shares of iBio, Inc. (NASDAQ:IBIO) have earned an average recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.75.

Several brokerages have recently commented on IBIO. Wall Street Zen upgraded iBio from a “sell” rating to a “hold” rating in a research report on Saturday. JonesTrading began coverage on iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. Finally, Chardan Capital restated a “buy” rating and set a $5.00 price objective on shares of iBio in a research report on Thursday, April 9th.

Insider Transactions at iBio

In related news, CFO Felipe Duran acquired 24,835 shares of iBio stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price of $2.02 per share, for a total transaction of $50,166.70. Following the transaction, the chief financial officer directly owned 35,974 shares of the company’s stock, valued at $72,667.48. This trade represents a 222.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBIO. EcoR1 Capital LLC acquired a new position in iBio during the 4th quarter valued at approximately $4,300,000. Affinity Asset Advisors LLC acquired a new position in iBio during the 4th quarter valued at approximately $3,970,000. Logos Global Management LP acquired a new position in iBio during the 4th quarter valued at approximately $3,860,000. Frazier Life Sciences Management L.P. acquired a new position in iBio during the 4th quarter valued at approximately $3,770,000. Finally, Balyasny Asset Management L.P. boosted its position 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 valued at $2,116,000 after purchasing an additional 1,085,779 shares during the period. Institutional investors and hedge funds own 7.90% of the company’s stock.

iBio Trading Down 0.5%

Shares of IBIO opened at $1.89 on Tuesday. The firm has a market cap of $93.90 million, a price-to-earnings ratio of -3.26 and a beta of 1.26. The stock has a 50 day moving average of $1.86 and a 200-day moving average of $1.98. iBio has a 52 week low of $0.56 and a 52 week high of $3.82.

iBio (NASDAQ:IBIO) last issued its 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). On average, sell-side analysts predict that iBio will post -0.36 earnings per share for the current fiscal year.

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.