iBio, Inc. (NASDAQ:IBIO) Stock Now Rated "Buy" by Wall Street Brokerages

Key Points

• Analysts broadly favor iBio: Nine analysts give the stock a consensus “Buy” rating, with five buys, three strong buys, and one sell. Their average 12-month price target is $5.29, substantially above the reported $1.19 share price.
• Institutional ownership has increased among several investors, including Affinity Asset Advisors, Bank of America, and Headlands Technologies. Institutional investors and hedge funds collectively own 7.90% of iBio.
• iBio reported quarterly EPS of -$0.04, beating the consensus estimate of -$0.07, while analysts expect a full-year loss of approximately $0.39 per share. The biotechnology company is developing antibody therapeutics using artificial intelligence, machine learning, and computational biology.

iBio, Inc. (NASDAQ:IBIO - Get Free Report) has received a consensus recommendation of "Buy" from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $5.29.

IBIO has been the topic of several recent analyst reports. Chardan Capital reaffirmed a "buy" rating and set a $5.00 target price on shares of iBio in a research report on Thursday, July 2nd. B. Riley Financial assumed coverage on iBio in a research note on Friday, June 5th. They set a "buy" rating and a $6.00 price target on the stock. HC Wainwright began coverage on shares of iBio in a report on Thursday, September 17th. They set a "buy" rating and a $7.00 price objective on the stock. Raymond James Financial started coverage on shares of iBio in a research report on Monday, June 8th. They issued an "outperform" rating and a $5.00 price objective for the company. Finally, Wall Street Zen downgraded shares of iBio from a "hold" rating to a "sell" rating in a research report on Sunday, September 13th.

Institutional Trading of iBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBIO. Squarepoint Ops LLC acquired a new stake in shares of iBio during the second quarter worth about $873,000. Headlands Technologies LLC boosted its position in iBio by 333.0% in the second quarter. Headlands Technologies LLC now owns 47,413 shares of the company's stock valued at $83,000 after buying an additional 36,463 shares during the last quarter. Bank of America Corp DE increased its holdings in iBio by 150.8% in the 1st quarter. Bank of America Corp DE now owns 290,413 shares of the company's stock worth $552,000 after buying an additional 174,620 shares during the period. ADAR1 Capital Management LLC increased its holdings in iBio by 15.9% in the 1st quarter. ADAR1 Capital Management LLC now owns 469,878 shares of the company's stock worth $893,000 after buying an additional 64,347 shares during the period. Finally, Affinity Asset Advisors LLC raised its position in iBio by 51.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company's stock worth $5,904,000 after buying an additional 1,050,000 shares during the last quarter. Institutional investors and hedge funds own 7.90% of the company's stock.

iBio Stock Performance

NASDAQ IBIO opened at $1.19 on Monday. The firm's fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $1.66. The firm has a market capitalization of $76.53 million, a P/E ratio of -3.50 and a beta of 1.29. iBio has a 12-month low of $0.78 and a 12-month high of $3.82.

iBio (NASDAQ:IBIO - Get Free Report) last issued its quarterly earnings data on Friday, August 28th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. As a group, sell-side analysts predict that iBio will post -0.39 earnings per share for the current fiscal year.

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.

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