EcoR1 Capital LLC Sells 645,000 Shares of iBio, Inc. $IBIO

EcoR1 Capital LLC lessened its holdings in shares of iBio, Inc. (NASDAQ:IBIO) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,583,000 shares of the company’s stock after selling 645,000 shares during the quarter. iBio makes up 0.1% of EcoR1 Capital LLC’s portfolio, making the stock its 26th biggest position. EcoR1 Capital LLC’s holdings in iBio were worth $3,008,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IBIO. Affinity Asset Advisors LLC lifted its position in shares of iBio by 51.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after purchasing an additional 1,050,000 shares during the period. Logos Global Management LP purchased a new stake in iBio in the fourth quarter worth about $3,860,000. Frazier Life Sciences Management L.P. bought a new stake in iBio during the 4th quarter valued at approximately $3,770,000. Balyasny Asset Management L.P. grew 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 acquiring an additional 1,085,779 shares during the period. Finally, Ikarian Capital LLC grew its holdings in shares of iBio by 55.0% during the 4th quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock worth $1,847,000 after acquiring an additional 339,735 shares during the period. Institutional investors own 7.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IBIO. Chardan Capital restated a “buy” rating and issued a $5.00 target price on shares of iBio in a research note on Thursday, July 2nd. B. Riley Financial assumed coverage on iBio in a research note on Friday, June 5th. They issued a “buy” rating and a $6.00 price target on the stock. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Raymond James Financial initiated coverage on shares of iBio in a report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $5.00.

iBio Stock Up 1.4%

IBIO stock opened at $1.45 on Tuesday. The business has a 50 day moving average of $1.65 and a 200 day moving average of $1.98. The firm has a market cap of $72.04 million, a PE ratio of -2.50 and a beta of 1.27. iBio, Inc. has a twelve month low of $0.56 and a twelve month high of $3.82.

iBio (NASDAQ:IBIO) last released its earnings results on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, research analysts expect that iBio, Inc. will post -0.36 earnings per share 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.