Affinity Asset Advisors LLC Grows Position in iBio, Inc. $IBIO

Affinity Asset Advisors LLC lifted its holdings in shares of iBio, Inc. (NASDAQ:IBIO) by 51.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,107,200 shares of the company’s stock after purchasing an additional 1,050,000 shares during the quarter. Affinity Asset Advisors LLC owned 8.60% of iBio worth $5,904,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PFG Investments LLC purchased a new position in iBio in the 4th quarter worth approximately $41,000. XTX Topco Ltd bought a new stake in iBio during the fourth quarter worth about $71,000. Persistent Asset Partners Ltd bought a new stake in iBio during the fourth quarter worth about $76,000. Susquehanna International Group LLP purchased a new position in shares of iBio in the 3rd quarter worth about $37,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of iBio during the 1st quarter valued at about $224,000. 7.90% of the stock is currently owned by institutional investors.

iBio Stock Up 2.1%

iBio stock opened at $1.43 on Friday. iBio, Inc. has a twelve month low of $0.56 and a twelve month high of $3.82. The company has a market capitalization of $71.04 million, a P/E ratio of -2.47 and a beta of 1.27. The stock’s 50 day moving average is $1.65 and its 200 day moving average is $1.99.

iBio (NASDAQ:IBIO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, equities analysts expect that iBio, Inc. will post -0.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IBIO shares. B. Riley Financial assumed coverage on iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Thursday, July 2nd. Wall Street Zen lowered shares of iBio from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Finally, Raymond James Financial started coverage on iBio in a research note on Monday, June 8th. They set an “outperform” rating and a $5.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, iBio has an average rating of “Buy” and an average price target of $5.00.

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.