iBio’s (IBIO) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of iBio (NYSE:IBIO) in a research note issued to investors on Thursday morning,Benzinga reports. Chardan Capital currently has a $5.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Oppenheimer reiterated an “outperform” rating on shares of iBio in a research report on Wednesday, October 29th. Leerink Partners began coverage on shares of iBio in a research note on Friday, October 17th. They set an “outperform” rating and a $2.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $4.00.

iBio Trading Down 4.5%

Shares of IBIO stock opened at $2.11 on Thursday. iBio has a 52-week low of $0.56 and a 52-week high of $6.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $68.66 million, a PE ratio of -2.11 and a beta of 1.26. The business’s fifty day moving average is $2.13 and its 200 day moving average is $1.36.

Institutional Trading of iBio

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. bought a new position in iBio in the third quarter worth approximately $399,000. Renaissance Technologies LLC purchased a new position in iBio during the fourth quarter valued at $682,000. Monashee Investment Management LLC bought a new stake in iBio during the fourth quarter valued at about $530,000. Noesis Capital Mangement Corp bought a new stake in iBio during the fourth quarter valued at about $433,000. Finally, Geode Capital Management LLC increased its position in iBio by 47.1% in the fourth quarter. Geode Capital Management LLC now owns 222,610 shares of the company’s stock worth $430,000 after buying an additional 71,301 shares in the last quarter. Institutional investors own 7.90% of the company’s stock.

About iBio

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.