iBio, Inc. (NASDAQ:IBIO) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts give iBio a consensus "Buy": six firms cover the stock (1 sell, 2 buy, 3 strong buy) with an average 12‑month price target of $4.75.
• CFO bought shares: Felipe Duran purchased 24,835 shares at about $2.02 on March 19, boosting his ownership ~223%; insiders now hold 2.75% of the company.
• Shares trade near $1.98 (1‑year range $0.56–$3.95) with a market cap of roughly $68.4M; iBio reported a quarterly EPS loss of $0.09, missing the consensus by $0.01.

iBio, Inc. (NASDAQ:IBIO - Get Free Report) has received a consensus recommendation of "Buy" from the six research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.75.

Several equities research analysts have issued reports on the company. Lifesci Capital upgraded iBio to a "strong-buy" rating in a report on Thursday, December 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of iBio in a research note on Friday, March 27th. JonesTrading began coverage on shares of iBio in a research report on Tuesday, March 3rd. They set a "buy" rating and a $7.00 price target for the company. Wall Street Zen upgraded shares of iBio from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $5.00 price target on shares of iBio in a report on Wednesday, March 18th.

Insider Buying and Selling at iBio

In related news, CFO Felipe Duran bought 24,835 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $2.02 per share, with a total value of $50,166.70. Following the transaction, the chief financial officer owned 35,974 shares of the company's stock, valued at approximately $72,667.48. This trade represents a 222.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.75% of the company's stock.

Hedge Funds Weigh In On iBio

Hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC increased its holdings in iBio by 10.9% in the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company's stock valued at $146,000 after buying an additional 17,414 shares during the last quarter. State Street Corp lifted its holdings in iBio by 116.3% during the 4th quarter. State Street Corp now owns 72,899 shares of the company's stock worth $141,000 after buying an additional 39,200 shares during the last quarter. Citadel Advisors LLC bought a new position in iBio during the 3rd quarter worth approximately $109,000. Persistent Asset Partners Ltd acquired a new position in shares of iBio in the 4th quarter worth approximately $76,000. Finally, XTX Topco Ltd acquired a new position in shares of iBio in the 4th quarter worth approximately $71,000. 7.90% of the stock is currently owned by institutional investors and hedge funds.

iBio Price Performance

Shares of iBio stock opened at $1.98 on Monday. iBio has a 1-year low of $0.56 and a 1-year high of $3.95. The firm has a market capitalization of $68.39 million, a P/E ratio of -1.98 and a beta of 1.36. The firm's 50-day simple moving average is $2.30.

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

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.

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