iBio (NASDAQ:IBIO) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded iBio from “hold” to “sell,” adding to a mixed analyst picture that still includes several buy ratings and a consensus “buy” target of $5.00.
• iBio shares were flat at $1.51 in Friday trading, well below the stock’s 52-week high of $3.82 and below both its 50-day and 200-day moving averages.
• Recent earnings missed estimates: iBio reported a loss of $0.07 per share versus expectations of $0.06, and analysts currently forecast a full-year loss of $0.36 per share.

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 note issued on Sunday.

A number of other research analysts also recently issued reports on IBIO. Weiss Ratings reissued a "sell (d-)" rating on shares of iBio in a research note on Wednesday, June 24th. Raymond James Financial initiated coverage on iBio in a report on Monday, June 8th. They issued an "outperform" rating and a $5.00 target price for the company. B. Riley Financial assumed coverage on iBio in a report on Friday, June 5th. They set a "buy" rating and a $6.00 price target on the stock. Finally, Chardan Capital reaffirmed a "buy" rating and set a $5.00 price objective on shares of iBio in a research report on Thursday, July 2nd. 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $5.00.

iBio Price Performance

iBio stock remained flat at $1.51 during mid-day trading on Friday. 894,044 shares of the company's stock traded hands, compared to its average volume of 996,329. iBio has a 52-week low of $0.56 and a 52-week high of $3.82. The firm's 50 day moving average price is $1.69 and its two-hundred day moving average price is $2.02. The firm has a market capitalization of $75.02 million, a PE ratio of -2.60 and a beta of 1.27.

iBio (NASDAQ:IBIO - Get Free Report) last issued its quarterly earnings results 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). On average, analysts forecast that iBio will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of iBio during the third quarter valued at about $37,000. PFG Investments LLC acquired a new stake in shares of iBio in the 4th quarter worth about $41,000. XTX Topco Ltd acquired a new stake in shares of iBio in the 4th quarter worth about $71,000. Persistent Asset Partners Ltd bought a new position in iBio in the 4th quarter valued at about $76,000. Finally, Citadel Advisors LLC bought a new position in iBio in the 3rd quarter valued at about $109,000. Institutional investors and hedge funds 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.

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.