iBio (NYSE:IBIO) Earns Buy Rating from Analysts at Chardan Capital

Chardan Capital assumed coverage on shares of iBio (NYSE:IBIO) in a report released on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $5.00 price target on the stock.

Separately, StockNews.com started coverage on iBio in a research note on Saturday, April 20th. They issued a sell rating for the company.

iBio Trading Down 9.7 %

Shares of NYSE IBIO opened at $2.23 on Tuesday. iBio has a one year low of $1.02 and a one year high of $17.60. The company’s 50 day simple moving average is $2.17. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.04.

iBio (NYSE:IBIO) last released its earnings results on Monday, May 13th. The company reported ($0.71) EPS for the quarter.

Institutional Investors Weigh In On iBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBIO. Lynx1 Capital Management LP purchased a new position in shares of iBio in the first quarter valued at about $2,436,000. Ikarian Capital LLC bought a new position in iBio during the 1st quarter valued at approximately $2,436,000. Finally, Opaleye Management Inc. purchased a new stake in iBio in the 1st quarter worth approximately $2,761,000. 7.90% of the stock is currently owned by institutional investors.

About iBio

iBio, Inc, a biotechnology company, engages in the development of precision antibodies in the United States. It offers IBIO-100, a preclinical anti-fibrotic program for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis; and EngageTx platform, which provides an optimized CD3 T-cell engager antibody panel.