iBio (NASDAQ:IBIO) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of iBio (NASDAQ:IBIO) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other research analysts have also issued reports on IBIO. B. Riley Financial began coverage on shares of iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 price target on the stock. Chardan Capital reiterated a “buy” rating and set a $5.00 price objective on shares of iBio in a research note on Thursday, July 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th. Finally, Raymond James Financial started coverage on iBio in a research report on Monday, June 8th. They issued an “outperform” rating and a $5.00 target price on the stock. 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $5.00.

iBio Stock Performance

Shares of IBIO stock opened at $1.43 on Friday. iBio has a fifty-two week low of $0.67 and a fifty-two week high of $3.82. The firm has a market capitalization of $71.04 million, a price-to-earnings ratio of -2.47 and a beta of 1.30. The stock’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.89.

Hedge Funds Weigh In On iBio

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new stake in iBio during the 3rd quarter valued at approximately $37,000. PFG Investments LLC purchased a new position in shares of iBio during the fourth quarter worth $41,000. XTX Topco Ltd purchased a new position in shares of iBio during the fourth quarter worth $71,000. Persistent Asset Partners Ltd acquired a new position in iBio during the fourth quarter valued at $76,000. Finally, Citadel Advisors LLC acquired a new position in iBio during the third quarter valued at $109,000. 7.90% of the stock is owned by hedge funds and other institutional investors.

About iBio

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.