iBio (NASDAQ:IBIO) Raised to Hold at Wall Street Zen

iBio (NASDAQ:IBIO) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

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

iBio Price Performance

IBIO stock opened at $1.31 on Friday. The business’s fifty day moving average is $1.45 and its 200-day moving average is $1.80. The company has a market cap of $84.25 million, a P/E ratio of -3.85 and a beta of 1.29. iBio has a twelve month low of $0.77 and a twelve month high of $3.82.

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

Institutional Investors Weigh In On iBio

Several large investors have recently modified their holdings of the business. Boothbay Fund Management LLC raised its position in shares of iBio by 10.9% during the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock worth $146,000 after purchasing an additional 17,414 shares during the period. Headlands Technologies LLC grew 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 valued at $83,000 after purchasing an additional 36,463 shares during the period. XTX Topco Ltd acquired a new position in shares of iBio in the 4th quarter valued at approximately $71,000. State Street Corp increased its stake in iBio by 116.3% during the 4th quarter. State Street Corp now owns 72,899 shares of the company’s stock worth $141,000 after purchasing an additional 39,200 shares in the last quarter. Finally, Persistent Asset Partners Ltd bought a new stake in iBio during the 4th quarter worth approximately $76,000. 7.90% of the stock is currently owned by institutional investors.

iBio Company 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.