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

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

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Chardan Capital reiterated a “buy” rating and issued a $5.00 price objective on shares of iBio in a research note on Thursday, July 2nd. Raymond James Financial initiated coverage on iBio in a research note on Monday, June 8th. They issued an “outperform” rating and a $5.00 target price on the stock. Finally, B. Riley Financial assumed coverage on iBio in a report on Friday, June 5th. They issued a “buy” rating and a $6.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, iBio has a consensus rating of “Buy” and a consensus target price of $5.00.

iBio Price Performance

NASDAQ IBIO remained flat at $1.51 on Friday. The company had a trading volume of 894,044 shares, compared to its average volume of 996,329. The business has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $2.02. iBio has a twelve month low of $0.56 and a twelve month high of $3.82. The stock has a market capitalization of $75.02 million, a PE ratio of -2.60 and a beta of 1.27.

iBio (NASDAQ:IBIO) last posted its quarterly earnings data 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). Sell-side analysts predict that iBio will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBIO. EcoR1 Capital LLC purchased a new stake in shares of iBio during the 4th quarter valued at approximately $4,300,000. Affinity Asset Advisors LLC purchased a new position in iBio in the 4th quarter valued at approximately $3,970,000. Logos Global Management LP purchased a new position in iBio in the 4th quarter valued at approximately $3,860,000. Frazier Life Sciences Management L.P. bought a new stake in iBio during the 4th quarter valued at $3,770,000. Finally, Balyasny Asset Management L.P. raised its holdings in iBio by 10,440.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,096,179 shares of the company’s stock valued at $2,116,000 after acquiring an additional 1,085,779 shares during the period. Institutional investors 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.