iBio (NASDAQ:IBIO) Cut to “Sell” at Wall Street Zen

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

A number of other brokerages have also recently issued reports on IBIO. Chardan Capital restated a “buy” rating and set a $5.00 price objective on shares of iBio in a report on Thursday, July 2nd. B. Riley Financial initiated coverage on iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 target price on the stock. 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 note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.00.

iBio Price Performance

iBio stock opened at $1.19 on Friday. The company’s 50-day moving average is $1.39 and its 200-day moving average is $1.74. The firm has a market capitalization of $76.53 million, a PE ratio of -3.50 and a beta of 1.29. iBio has a fifty-two week low of $0.77 and a fifty-two week high of $3.82.

iBio (NASDAQ:IBIO) last announced its earnings results on Friday, August 28th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. As a group, analysts expect that iBio will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IBIO. Headlands Technologies LLC lifted its position in shares of iBio by 333.0% during the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock valued at $83,000 after acquiring an additional 36,463 shares during the period. ADAR1 Capital Management LLC grew its holdings in shares of iBio by 15.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 469,878 shares of the company’s stock worth $893,000 after purchasing an additional 64,347 shares in the last quarter. Noesis Capital Mangement Corp grew its holdings in shares of iBio by 38.9% during the 1st quarter. Noesis Capital Mangement Corp now owns 311,500 shares of the company’s stock worth $592,000 after purchasing an additional 87,300 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in iBio in the fourth quarter valued at about $309,000. Finally, Bank of America Corp DE raised its stake in iBio by 150.8% in the first quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock valued at $552,000 after purchasing an additional 174,620 shares in the last quarter. Institutional investors and hedge funds own 7.90% of the company’s stock.

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.