iBio’s (IBIO) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of iBio (NASDAQ:IBIO) in a report released on Wednesday morning,Benzinga reports. They currently have a $5.00 price objective on the stock.

A number of other equities analysts have also commented on IBIO. Lifesci Capital upgraded iBio to a “strong-buy” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. Wall Street Zen raised iBio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, JonesTrading started coverage on iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, iBio presently has a consensus rating of “Buy” and an average target price of $4.75.

iBio Stock Performance

Shares of NASDAQ:IBIO opened at $2.11 on Wednesday. iBio has a 12-month low of $0.56 and a 12-month high of $4.86. The stock’s 50 day simple moving average is $2.38. The firm has a market cap of $72.71 million, a price-to-earnings ratio of -2.11 and a beta of 1.18.

iBio (NASDAQ:IBIO) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01).

Hedge Funds Weigh In On iBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC raised its holdings in shares of iBio by 10.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after acquiring an additional 17,414 shares in the last quarter. PFG Investments LLC bought a new stake in shares of iBio during the 4th quarter valued at about $41,000. XTX Topco Ltd purchased a new position in shares of iBio during the fourth quarter worth about $71,000. State Street Corp grew its holdings in shares of iBio by 116.3% during the fourth quarter. State Street Corp now owns 72,899 shares of the company’s stock worth $141,000 after purchasing an additional 39,200 shares in the last quarter. Finally, Persistent Asset Partners Ltd bought a new position in shares of iBio in the fourth quarter worth approximately $76,000. 7.90% of the stock is currently owned by hedge funds and other 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.