Frazier Life Sciences Management L.P. Takes Position in iBio, Inc. $IBIO

Frazier Life Sciences Management L.P. bought a new stake in shares of iBio, Inc. (NASDAQ:IBIO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,953,467 shares of the company’s stock, valued at approximately $3,770,000. Frazier Life Sciences Management L.P. owned about 5.66% of iBio as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBIO. Cubist Systematic Strategies LLC purchased a new position in shares of iBio during the first quarter valued at approximately $224,000. Ameriprise Financial Inc. purchased a new position in shares of iBio during the third quarter valued at approximately $399,000. Boothbay Fund Management LLC boosted 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 valued at $146,000 after buying an additional 17,414 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of iBio during the third quarter valued at approximately $109,000. Finally, Susquehanna International Group LLP purchased a new position in shares of iBio during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

Insider Activity at iBio

In other news, CFO Felipe Duran purchased 24,835 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $2.02 per share, with a total value of $50,166.70. Following the transaction, the chief financial officer directly owned 35,974 shares of the company’s stock, valued at approximately $72,667.48. This represents a 222.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.75% of the stock is owned by corporate insiders.

iBio Trading Up 1.2%

IBIO stock opened at $1.69 on Friday. iBio, Inc. has a 1-year low of $0.56 and a 1-year high of $3.82. The stock’s fifty day simple moving average is $1.83 and its two-hundred day simple moving average is $2.02. The stock has a market cap of $83.96 million, a P/E ratio of -2.91 and a beta of 1.26.

iBio (NASDAQ:IBIO) last issued its quarterly 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). As a group, analysts forecast that iBio, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IBIO. Raymond James Financial began coverage on iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price on the stock. JonesTrading began coverage on iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 target price on the stock. B. Riley Financial began coverage on iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 target price on the stock. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research report on Sunday, June 7th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a research report on Thursday, April 9th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, iBio currently has a consensus rating of “Buy” and a consensus price target of $5.00.

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.