Raymond James Financial upgraded shares of iBio (NASDAQ:IBIO – Free Report) to a moderate buy rating in a report issued on Monday morning,Zacks.com reports.
A number of other research analysts also recently issued reports on IBIO. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th. Chardan Capital reiterated a “buy” rating and set a $5.00 price objective on shares of iBio in a report on Thursday, April 9th. B. Riley Financial assumed coverage on iBio in a report on Friday. They set a “buy” rating and a $6.00 price objective for the company. JonesTrading assumed coverage on iBio in a report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price objective for the company. Finally, Wall Street Zen downgraded iBio from a “hold” rating to a “sell” rating in a report on Sunday. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $5.00.
Get Our Latest Stock Analysis on IBIO
iBio Price Performance
iBio (NASDAQ:IBIO – Get Free Report) last announced its quarterly 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 anticipate that iBio will post -0.38 EPS for the current fiscal year.
Insider Activity
In other news, CFO Felipe Duran acquired 24,835 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief financial officer owned 35,974 shares in the company, valued at $72,667.48. This represents a 222.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.75% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of IBIO. EcoR1 Capital LLC bought a new position in iBio in the fourth quarter valued at approximately $4,300,000. Affinity Asset Advisors LLC bought a new position in iBio in the fourth quarter valued at approximately $3,970,000. Logos Global Management LP bought a new position in iBio in the fourth quarter valued at approximately $3,860,000. Frazier Life Sciences Management L.P. bought a new position in iBio in the fourth quarter valued at approximately $3,770,000. Finally, Balyasny Asset Management L.P. grew its stake in iBio by 10,440.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock valued at $2,116,000 after purchasing an additional 1,085,779 shares in the last quarter. 7.90% of the stock is currently owned by institutional investors.
iBio Company Profile
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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