EcoR1 Capital LLC Cuts Holdings in iBio, Inc. $IBIO

EcoR1 Capital LLC decreased its stake in iBio, Inc. (NASDAQ:IBIO) by 28.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,583,000 shares of the company’s stock after selling 645,000 shares during the period. iBio comprises about 0.1% of EcoR1 Capital LLC’s investment portfolio, making the stock its 26th biggest position. EcoR1 Capital LLC owned 4.38% of iBio worth $3,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in IBIO. Boothbay Fund Management LLC raised its position in iBio by 10.9% during the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after purchasing an additional 17,414 shares in the last quarter. PFG Investments LLC bought a new position in shares of iBio during the 4th quarter valued at about $41,000. XTX Topco Ltd purchased a new position in shares of iBio during the 4th quarter valued at about $71,000. State Street Corp lifted its position 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 buying an additional 39,200 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in iBio in the fourth quarter worth approximately $76,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

iBio Stock Performance

NASDAQ:IBIO opened at $1.45 on Tuesday. The firm has a market cap of $72.04 million, a PE ratio of -2.50 and a beta of 1.27. iBio, Inc. has a fifty-two week low of $0.56 and a fifty-two week high of $3.82. The business has a 50 day moving average price of $1.65 and a 200-day moving average price of $1.98.

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). Research analysts predict that iBio, Inc. will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

IBIO has been the topic of several research reports. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Raymond James Financial assumed coverage on shares of iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price target for the company. Finally, B. Riley Financial started coverage on iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $5.00.

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.