iBio (NASDAQ:IBIO) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of iBio (NASDAQ:IBIO) from a hold rating to a sell rating in a research note published on Sunday.

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

iBio Price Performance

NASDAQ:IBIO opened at $1.47 on Friday. iBio has a 1-year low of $0.76 and a 1-year high of $3.82. The company has a market capitalization of $73.03 million, a price-to-earnings ratio of -2.53 and a beta of 1.30. The business has a 50 day moving average of $1.50 and a 200 day moving average of $1.85.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC raised its holdings in iBio by 333.0% in the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock worth $83,000 after purchasing an additional 36,463 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of iBio by 150.8% during the 1st quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock valued at $552,000 after purchasing an additional 174,620 shares in the last quarter. ADAR1 Capital Management LLC increased its position in shares of iBio by 15.9% during the first quarter. ADAR1 Capital Management LLC now owns 469,878 shares of the company’s stock valued at $893,000 after buying an additional 64,347 shares during the period. Affinity Asset Advisors LLC increased its position in shares of iBio by 51.0% during the first quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock valued at $5,904,000 after buying an additional 1,050,000 shares during the period. Finally, Walleye Capital LLC raised its stake in iBio by 95.9% in the first quarter. Walleye Capital LLC now owns 388,554 shares of the company’s stock worth $738,000 after buying an additional 190,179 shares in the last quarter. 7.90% of the stock is owned by hedge funds and other 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.