iBio (NASDAQ:IBIO) Rating Increased to Moderate Buy at Raymond James Financial

iBio (NASDAQ:IBIO) was upgraded by stock analysts at Raymond James Financial to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on IBIO. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of iBio in a report on Thursday, April 9th. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a report on Sunday. B. Riley Financial began coverage on shares of iBio in a report on Friday. They set a “buy” rating and a $6.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th. Finally, JonesTrading began coverage on shares of iBio in a report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, iBio presently has a consensus rating of “Buy” and an average price target of $5.00.

iBio Trading Down 4.9%

NASDAQ:IBIO opened at $1.73 on Monday. The firm has a 50-day moving average price of $1.84 and a two-hundred day moving average price of $2.01. iBio has a twelve month low of $0.56 and a twelve month high of $3.82. The company has a market capitalization of $85.95 million, a P/E ratio of -2.98 and a beta of 1.26.

iBio (NASDAQ:IBIO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, equities research analysts predict that iBio will post -0.38 earnings per share for the current year.

Insider Activity

In related news, CFO Felipe Duran bought 24,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $2.02 per share, with a total value of $50,166.70. Following the completion of the transaction, the chief financial officer owned 35,974 shares of the company’s stock, valued at approximately $72,667.48. The trade was a 222.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On iBio

Several hedge funds have recently modified their holdings of IBIO. Susquehanna International Group LLP acquired a new stake in shares of iBio in the third quarter worth approximately $37,000. PFG Investments LLC acquired a new stake in shares of iBio in the fourth quarter worth approximately $41,000. XTX Topco Ltd acquired a new stake in shares of iBio in the fourth quarter worth approximately $71,000. Persistent Asset Partners Ltd acquired a new stake in shares of iBio in the fourth quarter worth approximately $76,000. Finally, Citadel Advisors LLC acquired a new stake in shares of iBio in the third quarter worth approximately $109,000. 7.90% of the stock is owned by institutional investors and hedge funds.

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.