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

Wall Street Zen lowered shares of iBio (NASDAQ:IBIO) from a hold rating to a sell rating in a research note released on Sunday morning,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. B. Riley Financial started coverage on shares of iBio in a research note on Friday, June 5th. They issued a “buy” rating and a $6.00 price target for the company. Raymond James Financial started coverage on iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research note on Wednesday, June 24th. Three investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.00.

iBio Stock Performance

Shares of IBIO opened at $1.21 on Friday. The company’s 50-day simple moving average is $1.40 and its 200-day simple moving average is $1.76. iBio has a 1 year low of $0.77 and a 1 year high of $3.82. The stock has a market capitalization of $77.49 million, a PE ratio of -3.54 and a beta of 1.29.

iBio (NASDAQ:IBIO) last announced its quarterly earnings data on Friday, August 28th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. On average, sell-side analysts predict that iBio will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On iBio

A number of large investors have recently modified their holdings of IBIO. Cubist Systematic Strategies LLC purchased a new stake in shares of iBio during the 1st quarter worth $224,000. Ameriprise Financial Inc. acquired a new position in shares of iBio during the third quarter worth $399,000. 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. Citadel Advisors LLC purchased a new position in iBio in the third quarter valued at $109,000. Finally, Susquehanna International Group LLP purchased a new position in iBio in the third quarter valued at $37,000. 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.