iBio, Inc. (NASDAQ:IBIO) Stock Has Average Target Price of $5.29 According to Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.29.

A number of analysts have issued reports on IBIO shares. HC Wainwright assumed coverage on iBio in a research report on Thursday, September 17th. They issued a “buy” rating and a $7.00 target price on the stock. Chardan Capital restated a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Thursday, July 2nd. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research note on Sunday, September 13th. Raymond James Financial assumed coverage on iBio in a report on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research note on Monday, September 21st.

iBio Price Performance

Shares of IBIO stock opened at $1.18 on Monday. iBio has a 1-year low of $0.78 and a 1-year high of $3.82. The firm has a market cap of $75.89 million, a PE ratio of -3.47 and a beta of 1.29. The company has a 50-day moving average of $1.34 and a two-hundred day moving average of $1.63.

iBio (NASDAQ:IBIO) last released its quarterly earnings results on Friday, August 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Sell-side analysts anticipate that iBio will post -0.39 EPS for the current fiscal year.

Institutional Trading of iBio

Several hedge funds have recently made changes to their positions in the business. Affinity Asset Advisors LLC grew its holdings in shares of iBio by 51.0% in the first quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock valued at $5,904,000 after purchasing an additional 1,050,000 shares in the last quarter. EcoR1 Capital LLC purchased a new position in iBio in the 4th quarter valued at approximately $4,300,000. Frazier Life Sciences Management L.P. purchased a new position in iBio in the 4th quarter valued at approximately $3,770,000. Squarepoint Ops LLC acquired a new position in shares of iBio in the second quarter worth $873,000. Finally, ADAR1 Capital Management LLC grew its stake 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 worth $893,000 after acquiring an additional 64,347 shares in the last quarter. Institutional investors and hedge funds own 7.90% of the company’s stock.

About iBio

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.