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

Key Points

• Wall Street Zen downgraded iBio from “Hold” to “Sell,” though the broader analyst consensus remains “Buy” with an average price target of $5.00.
• Other analysts are more optimistic: Raymond James, Chardan Capital, and B. Riley assigned “Outperform” or “Buy” ratings with price targets ranging from $5 to $6, while Weiss Ratings maintained a “Sell (D-)” view.
• iBio shares opened at $1.43, with a $71.04 million market capitalization and a 12-month trading range of $0.74 to $3.82; institutional investors own approximately 7.9% of the company.

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

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

iBio Stock Performance

Shares of IBIO opened at $1.43 on Friday. The firm has a market cap of $71.04 million, a PE ratio of -2.47 and a beta of 1.30. The firm's 50 day moving average price is $1.51 and its 200 day moving average price is $1.87. iBio has a twelve month low of $0.74 and a twelve month high of $3.82.

Institutional Trading of iBio

Several large investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in iBio during the 4th quarter worth $71,000. Persistent Asset Partners Ltd acquired a new stake in shares of iBio in the fourth quarter valued at about $76,000. Susquehanna International Group LLP bought a new position in shares of iBio in the third quarter worth about $37,000. Headlands Technologies LLC increased its stake in shares of iBio by 333.0% in the second quarter. Headlands Technologies LLC now owns 47,413 shares of the company's stock worth $83,000 after purchasing an additional 36,463 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of iBio during the 1st quarter worth about $224,000. 7.90% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source