iBio (NASDAQ:IBIO) Stock Price Down 3.6% – What’s Next?

Shares of iBio, Inc. (NASDAQ:IBIO) fell 3.6% during mid-day trading on Thursday . The company traded as low as $2.10 and last traded at $2.15. 564,720 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,931,920 shares. The stock had previously closed at $2.23.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBIO. Leerink Partners raised iBio to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Monday, December 29th. Lifesci Capital upgraded iBio to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen raised iBio from a “strong sell” rating to a “hold” rating in a report on Sunday, November 16th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

iBio Stock Down 2.3%

The stock has a market capitalization of $47.23 million, a PE ratio of -1.51 and a beta of 1.14. The business’s fifty day simple moving average is $1.94.

iBio (NASDAQ:IBIO) last announced its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The firm had revenue of $0.10 million for the quarter.

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.