Martin Brenner Buys 12,336 Shares of iBio (NASDAQ:IBIO) Stock

iBio, Inc. (NASDAQ:IBIO) insider Martin Brenner bought 12,336 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of $2.02 per share, with a total value of $24,918.72. Following the completion of the acquisition, the insider owned 30,652 shares in the company, valued at approximately $61,917.04. This represents a 67.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

iBio Price Performance

Shares of NASDAQ IBIO opened at $2.11 on Monday. The business’s fifty day moving average price is $2.38. iBio, Inc. has a 1 year low of $0.56 and a 1 year high of $4.86. The stock has a market capitalization of $72.72 million, a P/E ratio of -2.11 and a beta of 1.18.

iBio (NASDAQ:IBIO) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

Analysts Set New Price Targets

Several brokerages recently weighed in on IBIO. Lifesci Capital upgraded iBio to a “strong-buy” rating in a research note on Thursday, December 18th. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a research note on Wednesday, March 18th. Finally, JonesTrading assumed coverage on iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $4.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC lifted its stake in iBio by 10.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after buying an additional 17,414 shares in the last quarter. PFG Investments LLC purchased a new stake in iBio during the 4th quarter worth approximately $41,000. XTX Topco Ltd purchased a new stake in iBio during the 4th quarter worth approximately $71,000. State Street Corp raised its holdings 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. Finally, Persistent Asset Partners Ltd purchased a new position in shares of iBio in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 7.90% of the company’s stock.

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.