iBio, Inc. (NASDAQ:IBIO) Given Average Rating of “Buy” by Analysts

iBio, Inc. (NASDAQ:IBIO) has been given an average rating of “Buy” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.00.

A number of equities research analysts have commented on the company. Chardan Capital reissued a “buy” rating and issued a $5.00 price objective on shares of iBio in a research note on Thursday, July 2nd. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Raymond James Financial started coverage on iBio in a report on Monday, June 8th. They issued an “outperform” rating and a $5.00 target price on the stock. B. Riley Financial initiated coverage on shares of iBio in a research report on Friday, June 5th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th.

iBio Price Performance

IBIO stock opened at $1.41 on Friday. The company’s 50-day moving average is $1.57 and its 200-day moving average is $1.92. The stock has a market capitalization of $70.05 million, a PE ratio of -2.43 and a beta of 1.30. iBio has a 1 year low of $0.56 and a 1 year 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 analysts’ consensus estimates of ($0.06) by ($0.01). On average, analysts anticipate that iBio will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.