iBio (NASDAQ:IBIO) Rating Increased to Strong-Buy at HC Wainwright

iBio (NASDAQ:IBIO) was upgraded by analysts at HC Wainwright to a “strong-buy” rating in a report issued on Thursday, Zacks reports.

Several other research firms also recently issued reports on IBIO. Raymond James Financial began coverage on shares of iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research report on Sunday, September 13th. B. Riley Financial started coverage on iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $5.29.

iBio Trading Up 5.9%

Shares of NASDAQ:IBIO opened at $1.25 on Thursday. The company has a market capitalization of $80.39 million, a PE ratio of -3.68 and a beta of 1.29. iBio has a twelve month low of $0.77 and a twelve month high of $3.82. The firm has a 50 day simple moving average of $1.37 and a 200-day simple moving average of $1.72.

iBio (NASDAQ:IBIO) last issued its earnings results on Friday, August 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. As a group, equities research analysts predict that iBio will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On iBio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Affinity Asset Advisors LLC increased its position in iBio by 51.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock valued at $5,904,000 after acquiring an additional 1,050,000 shares during the period. EcoR1 Capital LLC acquired a new stake in iBio during the 4th quarter worth approximately $4,300,000. Frazier Life Sciences Management L.P. purchased a new position in shares of iBio in the 4th quarter valued at approximately $3,770,000. Squarepoint Ops LLC purchased a new position in shares of iBio in the 2nd quarter valued at approximately $873,000. Finally, ADAR1 Capital Management LLC increased its holdings in shares of iBio by 15.9% in the first quarter. ADAR1 Capital Management LLC now owns 469,878 shares of the company’s stock valued at $893,000 after purchasing an additional 64,347 shares during the period. 7.90% of the stock is owned by hedge funds and other institutional investors.

iBio Company Profile

iBio, Inc is a biotechnology company focused on discovering and developing next-generation antibody therapeutics. The company uses artificial intelligence, machine learning and computational biology to identify antibody candidates and optimize their properties for potential use in cancer, autoimmune, inflammatory and fibrotic diseases.

iBio’s technology platform is based in part on the antibody-discovery capabilities obtained through its acquisition of RubrYc Therapeutics. The platform is designed to support target selection, antibody generation and optimization, with an emphasis on identifying antibodies that bind specific disease-related epitopes.