iBio (NASDAQ:IBIO) Issues Earnings Results, Misses Expectations By $0.01 EPS

iBio (NASDAQ:IBIOGet Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Zacks reports.

iBio Stock Down 1.4%

Shares of iBio stock opened at $1.53 on Thursday. iBio has a 12-month low of $0.56 and a 12-month high of $3.82. The company has a market capitalization of $55.26 million, a price-to-earnings ratio of -2.65 and a beta of 1.23. The firm’s 50-day moving average price is $2.05 and its two-hundred day moving average price is $1.95.

Insider Buying and Selling at iBio

In other news, CFO Felipe Duran acquired 24,835 shares of the stock in a transaction on Thursday, March 19th. The stock was acquired at an average cost of $2.02 per share, for a total transaction of $50,166.70. Following the completion of the transaction, the chief financial officer directly owned 35,974 shares in the company, valued at approximately $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.75% of the company’s stock.

Institutional Trading of iBio

Several large investors have recently bought and sold shares of IBIO. Susquehanna International Group LLP bought a new position in shares of iBio in the third quarter worth about $37,000. XTX Topco Ltd bought a new stake in shares of iBio during the fourth quarter worth about $71,000. Persistent Asset Partners Ltd bought a new position in iBio in the 4th quarter valued at approximately $76,000. Citadel Advisors LLC bought a new stake in iBio during the 3rd quarter worth approximately $109,000. Finally, State Street Corp raised its stake in shares of iBio by 116.3% during the fourth quarter. State Street Corp now owns 72,899 shares of the company’s stock valued at $141,000 after acquiring an additional 39,200 shares during the last quarter. 7.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBIO has been the subject of several recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of iBio in a research report on Thursday, April 9th. Wall Street Zen raised shares of iBio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. JonesTrading initiated 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, iBio has a consensus rating of “Buy” and a consensus price target of $4.75.

Read Our Latest Analysis on IBIO

iBio Company Profile

(Get Free Report)

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.

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Earnings History for iBio (NASDAQ:IBIO)

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