iBio (NYSE:IBIO) Now Covered by Analysts at JonesTrading

JonesTrading began coverage on shares of iBio (NYSE:IBIO) in a report released on Tuesday morning,Benzinga reports. The firm issued a buy rating and a $7.00 target price on the stock.

Separately, Chardan Capital reissued a “buy” rating and issued a $5.00 price objective on shares of iBio in a report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, iBio presently has an average rating of “Buy” and a consensus price target of $4.75.

iBio Price Performance

NYSE:IBIO opened at $2.69 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 1.76. The company’s fifty day moving average price is $2.28 and its 200-day moving average price is $1.55. iBio has a 1-year low of $0.56 and a 1-year high of $6.89. The firm has a market capitalization of $92.92 million, a P/E ratio of -2.69 and a beta of 1.26.

Institutional Trading of iBio

Several institutional investors have recently made changes to their positions in IBIO. XTX Topco Ltd acquired a new position in iBio in the fourth quarter valued at approximately $71,000. Ikarian Capital LLC grew its holdings in shares of iBio by 55.0% during the 4th quarter. Ikarian Capital LLC now owns 957,062 shares of the company’s stock worth $1,847,000 after purchasing an additional 339,735 shares during the period. EcoR1 Capital LLC purchased a new position in shares of iBio during the 4th quarter worth $4,300,000. Balyasny Asset Management L.P. increased its position in shares of iBio by 10,440.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock worth $2,116,000 after purchasing an additional 1,085,779 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in iBio by 43.8% in the 4th quarter. Boothbay Fund Management LLC now owns 254,412 shares of the company’s stock valued at $491,000 after buying an additional 77,550 shares during the period. Hedge funds and other 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.