iBio (NASDAQ:IBIO) Upgraded to “Strong-Buy” at HC Wainwright

HC Wainwright upgraded shares of iBio (NASDAQ:IBIO) to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a research note on Sunday, September 13th. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Chardan Capital reiterated a “buy” rating and issued a $5.00 price target on shares of iBio in a research report on Thursday, July 2nd. Raymond James Financial started coverage on iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, B. Riley Financial started coverage on iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 target price on the stock. Four 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 company. Based on data from MarketBeat, iBio has an average rating of “Buy” and a consensus target price of $5.29.

iBio Trading Up 5.9%

NASDAQ:IBIO opened at $1.25 on Thursday. The business’s 50-day moving average is $1.37 and its 200 day moving average is $1.72. iBio has a 12 month low of $0.77 and a 12 month high of $3.82. The company has a market capitalization of $80.39 million, a P/E ratio of -3.68 and a beta of 1.29.

iBio (NASDAQ:IBIO) last released its quarterly earnings data on Friday, August 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. On average, research analysts forecast that iBio will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in iBio during the 2nd quarter valued at $873,000. Headlands Technologies LLC lifted its position in shares of iBio by 333.0% during the second quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock worth $83,000 after purchasing an additional 36,463 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of iBio by 150.8% during the first quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock valued at $552,000 after purchasing an additional 174,620 shares during the period. ADAR1 Capital Management LLC boosted its stake in shares of iBio by 15.9% during the first quarter. ADAR1 Capital Management LLC now owns 469,878 shares of the company’s stock valued at $893,000 after purchasing an additional 64,347 shares during the period. Finally, Affinity Asset Advisors LLC grew its holdings in shares of iBio by 51.0% in the first quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after purchasing an additional 1,050,000 shares during the last quarter. Institutional investors own 7.90% of the company’s stock.

iBio Company Profile

iBio, Inc is a biotechnology company focused on discovering and developing next-generation antibody therapeutics. The company uses artificial intelligence, machine learning and computational biology to identify antibody candidates and optimize their properties for potential use in cancer, autoimmune, inflammatory and fibrotic diseases.

iBio’s technology platform is based in part on the antibody-discovery capabilities obtained through its acquisition of RubrYc Therapeutics. The platform is designed to support target selection, antibody generation and optimization, with an emphasis on identifying antibodies that bind specific disease-related epitopes.