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

iBio (NASDAQ:IBIO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other research analysts also recently issued reports on IBIO. Weiss Ratings reissued 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 for the company. B. Riley Financial assumed coverage on iBio in a report on Friday, June 5th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of iBio in a research report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.00.

iBio Price Performance

iBio stock remained flat at $1.51 during mid-day trading on Friday. 894,044 shares of the company’s stock traded hands, compared to its average volume of 996,329. iBio has a 52-week low of $0.56 and a 52-week high of $3.82. The firm’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $2.02. The firm has a market capitalization of $75.02 million, a PE ratio of -2.60 and a beta of 1.27.

iBio (NASDAQ:IBIO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). On average, analysts forecast that iBio will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of iBio during the third quarter valued at about $37,000. PFG Investments LLC acquired a new stake in shares of iBio in the 4th quarter worth about $41,000. XTX Topco Ltd acquired a new stake in shares of iBio in the 4th quarter worth about $71,000. Persistent Asset Partners Ltd bought a new position in iBio in the 4th quarter valued at about $76,000. Finally, Citadel Advisors LLC bought a new position in iBio in the 3rd quarter valued at about $109,000. Institutional investors and hedge funds own 7.90% of the company’s stock.

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.