iBio (NASDAQ:IBIO) Upgraded by Wall Street Zen to Hold Rating

iBio (NASDAQ:IBIO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research firms have also recently issued reports on IBIO. JonesTrading started coverage on iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 target price for the company. Lifesci Capital raised shares of iBio to a “strong-buy” rating in a research note on Thursday, December 18th. Chardan Capital reissued a “buy” rating and issued a $5.00 price objective on shares of iBio in a research note on Wednesday, March 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $4.75.

iBio Price Performance

NASDAQ:IBIO opened at $1.98 on Friday. The business has a fifty day moving average of $2.30. iBio has a one year low of $0.56 and a one year high of $3.95. The stock has a market cap of $68.39 million, a price-to-earnings ratio of -1.98 and a beta of 1.36.

iBio (NASDAQ:IBIO) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

Insiders Place Their Bets

In related news, CFO Felipe Duran purchased 24,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $2.02 per share, for a total transaction of $50,166.70. Following the acquisition, the chief financial officer owned 35,974 shares of the company’s stock, valued at approximately $72,667.48. This represents a 222.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PFG Investments LLC purchased a new stake in shares of iBio in the fourth quarter valued at $41,000. XTX Topco Ltd purchased a new position in shares of iBio during the 4th quarter worth about $71,000. Persistent Asset Partners Ltd purchased a new position in shares of iBio during the 4th quarter worth about $76,000. Susquehanna International Group LLP bought a new position in iBio during the 3rd quarter valued at about $37,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in iBio in the 1st quarter worth about $224,000. 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.