iBio (NASDAQ:IBIO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of iBio (NASDAQ:IBIO) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Thursday, July 2nd. Raymond James Financial initiated coverage on iBio in a research report on Monday, June 8th. They set an “outperform” rating and a $5.00 price objective on the stock. B. Riley Financial initiated coverage on iBio in a research report on Friday, June 5th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, iBio has a consensus rating of “Buy” and a consensus price target of $5.00.

iBio Stock Performance

IBIO stock opened at $1.31 on Friday. The firm’s 50-day moving average price is $1.44 and its two-hundred day moving average price is $1.79. iBio has a 12-month low of $0.77 and a 12-month high of $3.82. The stock has a market capitalization of $84.25 million, a price-to-earnings ratio of -3.85 and a beta of 1.29.

iBio (NASDAQ:IBIO) last announced its quarterly earnings results on Friday, August 28th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. Equities analysts predict that iBio will post -0.31 EPS for the current year.

Institutional Investors Weigh In On iBio

Hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new stake in iBio in the third quarter worth about $37,000. XTX Topco Ltd purchased a new position in shares of iBio during the fourth quarter valued at approximately $71,000. Persistent Asset Partners Ltd bought a new stake in shares of iBio in the 4th quarter worth approximately $76,000. Headlands Technologies LLC boosted its position in shares of iBio by 333.0% in the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock worth $83,000 after purchasing an additional 36,463 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of iBio in the 3rd quarter worth approximately $109,000. Institutional investors 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.