Frazier Life Sciences Management L.P. Takes $3.77 Million Position in iBio, Inc. $IBIO

Frazier Life Sciences Management L.P. purchased a new stake in shares of iBio, Inc. (NASDAQ:IBIO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,953,467 shares of the company’s stock, valued at approximately $3,770,000. Frazier Life Sciences Management L.P. owned approximately 0.06% of iBio as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Boothbay Fund Management LLC lifted its position in shares of iBio by 10.9% during 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 during the last quarter. PFG Investments LLC bought a new stake in shares of iBio during the 4th quarter valued at $41,000. State Street Corp raised its stake in shares of iBio by 116.3% during the 4th quarter. State Street Corp now owns 72,899 shares of the company’s stock valued at $141,000 after purchasing an additional 39,200 shares during the period. Susquehanna International Group LLP bought a new stake in shares of iBio during the 3rd quarter valued at $37,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of iBio during the 1st quarter valued at $224,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

iBio Trading Up 1.2%

Shares of iBio stock opened at $1.69 on Friday. The firm has a market capitalization of $83.96 million, a PE ratio of -2.91 and a beta of 1.26. The business’s 50-day moving average price is $1.83 and its 200-day moving average price is $2.02. iBio, Inc. has a 12 month low of $0.56 and a 12 month high of $3.82.

iBio (NASDAQ:IBIO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, analysts predict that iBio, Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on IBIO. Wall Street Zen lowered iBio from a “hold” rating to a “sell” rating in a research note on Sunday, June 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Friday, March 27th. JonesTrading began coverage on iBio in a research note on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price objective on the stock. B. Riley Financial began 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. Finally, Raymond James Financial began coverage on iBio in a research note on Monday, June 8th. They set an “outperform” rating and a $5.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, iBio currently has an average rating of “Buy” and an average price target of $5.00.

Insider Activity at iBio

In other news, CFO Felipe Duran acquired 24,835 shares of iBio stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of $2.02 per share, for a total transaction of $50,166.70. Following the transaction, the chief financial officer owned 35,974 shares of the company’s stock, valued at $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.75% of the company’s stock.

iBio 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.