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

Key Points

• Wall Street Zen downgraded iBio to a "sell", moving the stock from a prior "hold" rating in a note to investors issued Saturday.
• Analysts are mixed but the consensus remains an overall "Buy" with a $4.75 average price target (three Strong Buy, two Buy, one Sell).
• Shares trade around $2.11 with a $72.7M market cap, a negative recent EPS (‑$0.09 quarterly miss), and a 52‑week range of $0.56–$4.86.

iBio (NASDAQ:IBIO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Several other equities analysts have also commented on IBIO. Chardan Capital reaffirmed a "buy" rating and issued a $5.00 price target on shares of iBio in a research note on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of iBio in a report on Monday, December 29th. JonesTrading initiated coverage on shares of iBio in a research report on Tuesday, March 3rd. They issued a "buy" rating and a $7.00 target price on the stock. Finally, Lifesci Capital raised shares of iBio to a "strong-buy" rating in a research note on Thursday, December 18th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $4.75.

iBio Trading Up 0.2%

IBIO opened at $2.11 on Friday. The firm's fifty day moving average is $2.38. iBio has a 52-week low of $0.56 and a 52-week high of $4.86. The stock has a market capitalization of $72.71 million, a P/E ratio of -2.11 and a beta of 1.18.

iBio (NASDAQ:IBIO - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01).

Hedge Funds Weigh In On iBio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boothbay Fund Management LLC increased its stake in iBio by 43.8% during the fourth quarter. Boothbay Fund Management LLC now owns 254,412 shares of the company's stock worth $491,000 after purchasing an additional 77,550 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of iBio in the fourth quarter valued at approximately $467,000. Walleye Capital LLC purchased a new position in shares of iBio in the fourth quarter valued at approximately $383,000. Marshall Wace LLP acquired a new position in shares of iBio in the fourth quarter valued at approximately $234,000. Finally, Jane Street Group LLC acquired a new position in shares of iBio in the fourth quarter valued at approximately $204,000. 7.90% of the stock is currently 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.

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