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 research note released on Saturday.

IBIO has been the subject of several other research reports. Chardan Capital reissued a “buy” rating and set a $5.00 price target on shares of iBio in a research report on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Monday, December 29th. JonesTrading initiated coverage on shares of iBio in a research note on Tuesday, March 3rd. They set a “buy” rating and a $7.00 price objective for the company. Finally, Lifesci Capital upgraded shares of iBio to a “strong-buy” rating in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, iBio presently has a consensus rating of “Buy” and a consensus price target of $4.75.

iBio Stock Up 5.7%

Shares of iBio stock opened at $2.21 on Friday. iBio has a one year low of $0.56 and a one year high of $4.86. The stock has a 50 day moving average of $2.37. The stock has a market cap of $76.33 million, a PE ratio of -2.21 and a beta of 1.18.

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

Insider Buying and Selling

In related news, CFO Felipe Duran purchased 24,835 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $2.02 per share, for a total transaction of $50,166.70. Following the completion of the acquisition, the chief financial officer directly owned 35,974 shares in the company, valued at approximately $72,667.48. The trade was a 222.96% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC purchased a new stake in shares of iBio in the 4th quarter worth about $41,000. XTX Topco Ltd purchased a new position in shares of iBio during the fourth quarter valued at about $71,000. Persistent Asset Partners Ltd purchased a new position in shares of iBio during the fourth quarter valued at about $76,000. Susquehanna International Group LLP bought a new position in iBio in the third quarter worth about $37,000. Finally, Cubist Systematic Strategies LLC bought a new position in iBio in the first quarter worth about $224,000. 7.90% of the stock is currently owned by institutional investors.

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.