iBio, Inc. (NASDAQ:IBIO) Receives Consensus Recommendation of “Buy” from Analysts

iBio, Inc. (NASDAQ:IBIO) has earned an average recommendation of “Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.75.

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th. Chardan Capital reaffirmed a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Thursday, April 9th. JonesTrading started coverage on shares of iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price objective for the company. Finally, Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Insider Buying and Selling at iBio

In other news, CFO Felipe Duran purchased 24,835 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $2.02 per share, with a total value of $50,166.70. Following the acquisition, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC raised its position in iBio by 51.0% during the first quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock valued at $5,904,000 after purchasing an additional 1,050,000 shares in the last quarter. EcoR1 Capital LLC acquired a new stake in shares of iBio in the 4th quarter valued at $4,300,000. Logos Global Management LP bought a new position in shares of iBio in the 4th quarter valued at $3,860,000. Frazier Life Sciences Management L.P. bought a new position in shares of iBio in the 4th quarter valued at $3,770,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of 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 worth $2,116,000 after buying an additional 1,085,779 shares in the last quarter. 7.90% of the stock is currently owned by institutional investors and hedge funds.

iBio Price Performance

Shares of NASDAQ:IBIO opened at $1.84 on Tuesday. The company has a market capitalization of $91.41 million, a P/E ratio of -3.17 and a beta of 1.23. iBio has a 1 year low of $0.56 and a 1 year high of $3.82. The business’s 50 day simple moving average is $1.91 and its 200 day simple moving average is $1.96.

iBio (NASDAQ:IBIO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, sell-side analysts anticipate that iBio will post -0.36 EPS for the current fiscal year.

About iBio

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.