Analysts Set iBio, Inc. (NASDAQ:IBIO) Price Target at $4.75

iBio, Inc. (NASDAQ:IBIO) has received an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a buy rating and three have given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.75.

Several research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research report on Friday, March 27th. JonesTrading assumed coverage on iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 price objective for the company. Wall Street Zen raised iBio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Chardan Capital reissued a “buy” rating and issued a $5.00 price objective on shares of iBio in a research report on Thursday, April 9th.

iBio Stock Up 1.9%

Shares of NASDAQ:IBIO opened at $1.61 on Friday. The firm has a market cap of $58.19 million, a P/E ratio of -1.61 and a beta of 1.23. iBio has a 12-month low of $0.56 and a 12-month high of $3.82. The business has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $1.93.

iBio (NASDAQ:IBIO) last announced its earnings results on Tuesday, February 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). As a group, equities research analysts expect that iBio will post -0.32 EPS for the current year.

Insider Buying and Selling at iBio

In other iBio news, CFO Felipe Duran acquired 24,835 shares of the stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of $2.02 per share, with a total value of $50,166.70. Following the transaction, the chief financial officer owned 35,974 shares in the company, valued at approximately $72,667.48. The trade was a 222.96% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Noesis Capital Mangement Corp raised its position in shares of iBio by 38.9% in the 1st quarter. Noesis Capital Mangement Corp now owns 311,500 shares of the company’s stock worth $592,000 after acquiring an additional 87,300 shares in the last quarter. XTX Topco Ltd bought a new stake in iBio in the 4th quarter valued at about $71,000. Ikarian Capital LLC increased its position in iBio by 55.0% in the 4th quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock valued at $1,847,000 after buying an additional 339,735 shares in the last quarter. EcoR1 Capital LLC bought a new stake in iBio in the 4th quarter valued at about $4,300,000. Finally, Balyasny Asset Management L.P. boosted its stake 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 last quarter. 7.90% of the stock is 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.