iBio, Inc. (NASDAQ:IBIO) Receives $5.00 Average PT from Brokerages

iBio, Inc. (NASDAQ:IBIO) has been given a consensus rating of “Buy” by the eight analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.00.

Several research firms have recently issued reports on IBIO. Wall Street Zen cut shares of iBio from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Raymond James Financial began coverage on shares of iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 target price for the company. B. Riley Financial assumed coverage on shares of iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $5.00 price target on shares of iBio in a report on Thursday, July 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th.

iBio Stock Down 4.8%

Shares of iBio stock opened at $1.40 on Friday. The company has a market capitalization of $69.55 million, a price-to-earnings ratio of -2.41 and a beta of 1.30. The stock’s 50-day simple moving average is $1.54 and its 200-day simple moving average is $1.90. iBio has a 52 week low of $0.66 and a 52 week high of $3.82.

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

Institutional Investors Weigh In On iBio

Several large investors have recently made changes to their positions in IBIO. Boothbay Fund Management LLC lifted its position in shares of iBio by 10.9% in the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock worth $146,000 after buying an additional 17,414 shares in the last quarter. PFG Investments LLC purchased a new position in iBio during the 4th quarter valued at approximately $41,000. XTX Topco Ltd bought a new stake in iBio in the 4th quarter worth approximately $71,000. State Street Corp increased its stake in iBio by 116.3% in the 4th quarter. State Street Corp now owns 72,899 shares of the company’s stock worth $141,000 after acquiring an additional 39,200 shares during the last quarter. Finally, Persistent Asset Partners Ltd bought a new stake in iBio in the 4th quarter worth approximately $76,000. 7.90% of the stock is owned by institutional investors.

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.