iBio, Inc. (NASDAQ:IBIO) Stock Has Consensus Price Target of $5.29 According to Analysts

iBio, Inc. (NASDAQ:IBIO) has been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.29.

IBIO has been the topic of several research analyst reports. Raymond James Financial began coverage on iBio in a research report on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Monday, September 21st. Wall Street Zen cut iBio from a “hold” rating to a “sell” rating in a research note on Sunday, September 13th. Chardan Capital reissued a “buy” rating and issued a $5.00 price target on shares of iBio in a report on Thursday, July 2nd. Finally, HC Wainwright started coverage on shares of iBio in a research report on Thursday, September 17th. They set a “buy” rating and a $7.00 price target for the company.

iBio Stock Performance

Shares of NASDAQ:IBIO opened at $1.12 on Monday. The stock’s fifty day simple moving average is $1.33 and its two-hundred day simple moving average is $1.61. iBio has a 1-year low of $0.78 and a 1-year high of $3.82. The stock has a market cap of $72.35 million, a PE ratio of -3.31 and a beta of 1.26.

iBio (NASDAQ:IBIO) last released its earnings results on Friday, August 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. On average, sell-side analysts forecast that iBio will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IBIO. Affinity Asset Advisors LLC increased its holdings in iBio by 51.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after acquiring an additional 1,050,000 shares during the last quarter. Squarepoint Ops LLC bought a new stake in iBio in the 2nd quarter valued at about $873,000. Frazier Life Sciences Management L.P. purchased a new stake in iBio during the fourth quarter valued at about $3,770,000. EcoR1 Capital LLC purchased a new stake in iBio during the fourth quarter valued at about $4,300,000. Finally, Headlands Technologies LLC boosted its position 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 purchasing an additional 36,463 shares during the period. Hedge funds and other institutional investors own 7.90% of the company’s stock.

About iBio

iBio, Inc 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 antibody candidates and optimize their properties for potential use in cancer, autoimmune, inflammatory and fibrotic diseases.

iBio’s technology platform is based in part on the antibody-discovery capabilities obtained through its acquisition of RubrYc Therapeutics. The platform is designed to support target selection, antibody generation and optimization, with an emphasis on identifying antibodies that bind specific disease-related epitopes.