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

Wall Street Zen cut shares of iBio (NASDAQ:IBIO) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

IBIO has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. B. Riley Financial started coverage on iBio in a report on Friday, June 5th. They issued a “buy” rating and a $6.00 target price on the stock. Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of iBio in a research note on Thursday, July 2nd. Finally, Raymond James Financial assumed coverage on iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $5.00.

iBio Price Performance

Shares of NASDAQ:IBIO opened at $1.43 on Friday. iBio has a fifty-two week low of $0.74 and a fifty-two week high of $3.82. The firm’s 50 day moving average price is $1.51 and its 200 day moving average price is $1.86. The stock has a market cap of $71.04 million, a price-to-earnings ratio of -2.47 and a beta of 1.31.

Institutional Trading of iBio

A number of large investors have recently made changes to their positions in IBIO. Boothbay Fund Management LLC lifted its stake 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. Headlands Technologies LLC boosted its holdings in shares of iBio by 333.0% in the second 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. XTX Topco Ltd purchased a new position in shares of iBio during the fourth quarter worth approximately $71,000. State Street Corp grew its position in shares of 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 acquiring an additional 39,200 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in shares of iBio during the fourth quarter worth approximately $76,000. 7.90% of the stock is 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.