iBio (NASDAQ:IBIO) Releases Earnings Results, Beats Estimates By $0.03 EPS

iBio (NASDAQ:IBIO) issued its earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Zacks reports.

iBio Price Performance

IBIO stock opened at $1.40 on Friday. The company has a 50 day moving average price of $1.49 and a 200 day moving average price of $1.84. iBio has a fifty-two week low of $0.77 and a fifty-two week high of $3.82. The stock has a market capitalization of $69.55 million, a PE ratio of -2.41 and a beta of 1.30.

Institutional Trading of iBio

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBIO. XTX Topco Ltd acquired a new stake in iBio during the 4th quarter worth $71,000. Persistent Asset Partners Ltd bought a new position in shares of iBio in the 4th quarter worth $76,000. Susquehanna International Group LLP acquired a new stake in shares of iBio during the third quarter worth $37,000. Cubist Systematic Strategies LLC bought a new stake in iBio in the first quarter valued at about $224,000. Finally, State Street Corp increased its holdings in iBio by 116.3% in the fourth quarter. State Street Corp now owns 72,899 shares of the company’s stock valued at $141,000 after purchasing an additional 39,200 shares during the last quarter. 7.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBIO has been the topic of a number of recent analyst reports. Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of iBio in a research report on Thursday, July 2nd. B. Riley Financial began coverage on shares of iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Raymond James Financial initiated coverage on iBio in a report on Monday, June 8th. They issued an “outperform” rating and a $5.00 target price on the stock. Finally, Wall Street Zen downgraded iBio from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, iBio currently 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.