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

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

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

iBio Price Performance

IBIO opened at $2.11 on Friday. The firm has a 50-day moving average price of $2.38. iBio has a 1 year low of $0.56 and a 1 year high of $4.86. The firm has a market cap of $72.71 million, a P/E ratio of -2.11 and a beta of 1.18.

iBio (NASDAQ:IBIO) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01).

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of iBio by 47.1% during the 4th quarter. Geode Capital Management LLC now owns 222,610 shares of the company’s stock worth $430,000 after purchasing an additional 71,301 shares in the last quarter. Ameriprise Financial Inc. bought a new position in shares of iBio in the third quarter valued at $399,000. Boothbay Fund Management LLC grew its stake in shares of 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 in the last quarter. State Street Corp increased its holdings in iBio by 116.3% during the fourth quarter. State Street Corp now owns 72,899 shares of the company’s stock worth $141,000 after buying an additional 39,200 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in iBio during the third quarter worth $109,000. 7.90% of the stock is currently owned by 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.