iBio, Inc. (NASDAQ:IBIO) Stock Rated “Buy” by Wall Street Brokerages

Shares of iBio, Inc. (NASDAQ:IBIO) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.00.

Several research firms have commented on IBIO. HC Wainwright initiated coverage on iBio in a research note on Thursday, September 17th. They set a “buy” rating and a $7.00 price objective for the company. Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of iBio in a research report on Thursday, July 2nd. Wall Street Zen downgraded shares of iBio from a “hold” rating to a “sell” rating in a research note on Sunday, September 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Monday, September 21st.

iBio Trading Up 1.2%

Shares of NASDAQ:IBIO opened at $0.81 on Friday. iBio has a 1 year low of $0.69 and a 1 year high of $3.82. The business’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.71.

iBio (NASDAQ:IBIO) last issued its quarterly earnings results on Friday, August 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Research analysts predict that iBio will post -0.39 EPS for the current year.

Institutional Investors Weigh In On iBio

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC boosted its stake in iBio by 333.0% during the second quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock worth $83,000 after buying an additional 36,463 shares during the last quarter. Bank of America Corp DE increased its stake in shares of iBio by 150.8% in the 1st quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock worth $552,000 after acquiring an additional 174,620 shares during the last quarter. Noesis Capital Mangement Corp increased its stake in shares of iBio by 38.9% in the 1st quarter. Noesis Capital Mangement Corp now owns 311,500 shares of the company’s stock worth $592,000 after acquiring an additional 87,300 shares during the last quarter. Walleye Capital LLC raised its holdings in shares of iBio by 95.9% during the 1st quarter. Walleye Capital LLC now owns 388,554 shares of the company’s stock worth $738,000 after acquiring an additional 190,179 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of iBio during the 2nd quarter worth $873,000. 7.90% of the stock is currently owned by hedge funds and other institutional investors.

About iBio

iBio, Inc (NASDAQ: IBIO) 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 and optimize antibody candidates for potential use in cancer and other serious diseases.

iBio’s discovery capabilities are built around proprietary antibody-design and profiling technologies, including platforms intended to improve the speed and quality of therapeutic antibody development.