iBio (NASDAQ:IBIO) Lowered to “Sell” Rating by Wall Street Zen

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

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research note on Monday, December 29th. Chardan Capital reissued a “buy” rating and set a $5.00 target price on shares of iBio in a research note on Wednesday. Lifesci Capital upgraded iBio to a “strong-buy” rating in a report on Thursday, December 18th. Finally, JonesTrading started coverage on iBio in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $7.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $4.75.

iBio Price Performance

NASDAQ:IBIO opened at $2.11 on Friday. The stock has a market cap of $72.71 million, a PE ratio of -2.11 and a beta of 1.18. The business’s 50 day moving average is $2.38. iBio has a fifty-two week low of $0.56 and a fifty-two week high of $4.86.

iBio (NASDAQ:IBIO) last announced its earnings results on Tuesday, February 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01).

Institutional Trading of iBio

Several hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC boosted 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 purchasing an additional 17,414 shares during the period. PFG Investments LLC purchased a new stake in iBio during the 4th quarter worth about $41,000. XTX Topco Ltd acquired a new stake in iBio in the 4th quarter valued at about $71,000. State Street Corp raised its position in iBio by 116.3% in the 4th 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 in the last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in shares of iBio in the 4th quarter valued at about $76,000. 7.90% of the stock is currently owned by institutional investors and hedge funds.

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.