iBio’s (IBIO) Buy Rating Reiterated at Chardan Capital

iBio (NASDAQ:IBIO)‘s stock had its “buy” rating restated by Chardan Capital in a research report issued on Wednesday,Benzinga reports. They presently have a $5.00 price target on the stock. Chardan Capital’s target price suggests a potential upside of 103.25% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Lifesci Capital upgraded iBio to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a report on Monday, December 29th. JonesTrading began coverage on iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target on the stock. Finally, Wall Street Zen raised iBio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, iBio presently has a consensus rating of “Buy” and a consensus price target of $4.75.

iBio Price Performance

Shares of NASDAQ IBIO opened at $2.46 on Wednesday. The business’s fifty day moving average price is $2.40. iBio has a 1 year low of $0.56 and a 1 year high of $5.00. The stock has a market capitalization of $84.97 million, a P/E ratio of -2.46 and a beta of 1.18.

iBio (NASDAQ:IBIO) last released its quarterly earnings data on Tuesday, February 10th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01).

Institutional Trading of iBio

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of iBio during the fourth quarter worth about $71,000. Ikarian Capital LLC lifted its stake in iBio by 55.0% in the 4th quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock valued at $1,847,000 after buying an additional 339,735 shares in the last quarter. EcoR1 Capital LLC purchased a new position in iBio in the 4th quarter valued at about $4,300,000. Balyasny Asset Management L.P. boosted its holdings in iBio by 10,440.2% in 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 during the last quarter. Finally, Boothbay Fund Management LLC boosted its holdings in iBio by 43.8% in the 4th quarter. Boothbay Fund Management LLC now owns 254,412 shares of the company’s stock worth $491,000 after buying an additional 77,550 shares during the last quarter. Institutional investors and hedge funds 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.