iBio (NASDAQ:IBIO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of iBio (NASDAQ:IBIO) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of iBio in a report on Thursday, July 2nd. Raymond James Financial began coverage on shares of iBio in a research report on Monday, June 8th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, B. Riley Financial started coverage on shares of iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $5.00.

iBio Stock Up 0.8%

IBIO opened at $1.31 on Friday. The stock’s 50 day moving average price is $1.45 and its two-hundred day moving average price is $1.80. The firm has a market capitalization of $84.25 million, a P/E ratio of -3.85 and a beta of 1.29. iBio has a 12-month low of $0.77 and a 12-month high of $3.82.

iBio (NASDAQ:IBIO) last issued its quarterly earnings results on Friday, August 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. As a group, analysts anticipate that iBio will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On iBio

Institutional investors and hedge funds have recently bought and sold shares of the business. Boothbay Fund Management LLC raised its stake 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 buying an additional 17,414 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of iBio by 333.0% during the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock valued at $83,000 after acquiring an additional 36,463 shares in the last quarter. XTX Topco Ltd bought a new stake in iBio in the fourth quarter valued at about $71,000. State Street Corp increased its stake in iBio by 116.3% in the fourth quarter. State Street Corp now owns 72,899 shares of the company’s stock valued at $141,000 after acquiring an additional 39,200 shares during the period. Finally, Persistent Asset Partners Ltd acquired a new position in iBio in the fourth quarter worth about $76,000. Institutional investors own 7.90% of the company’s stock.

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.