iBio (NYSE:IBIO) Stock Price Down 5.9% – Time to Sell?

Shares of iBio, Inc. (NYSE:IBIO) dropped 5.9% on Tuesday . The company traded as low as $2.45 and last traded at $2.54. Approximately 1,967,611 shares changed hands during trading, a decline of 65% from the average daily volume of 5,679,223 shares. The stock had previously closed at $2.70.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBIO. Oppenheimer restated an “outperform” rating on shares of iBio in a report on Wednesday, October 29th. Leerink Partners began coverage on shares of iBio in a research note on Friday, October 17th. They set an “outperform” rating and a $2.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $4.00.

iBio Trading Down 5.9%

The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $1.67 and a 200 day moving average price of $1.14. The stock has a market capitalization of $57.12 million, a PE ratio of -1.83 and a beta of 1.14.

Hedge Funds Weigh In On iBio

Several large investors have recently bought and sold shares of the stock. Susquehanna International Group LLP purchased a new position in iBio during the 3rd quarter worth $37,000. Cubist Systematic Strategies LLC purchased a new position in iBio during the first quarter worth about $224,000. Citadel Advisors LLC bought a new stake in iBio in the 3rd quarter worth about $109,000. Boothbay Fund Management LLC increased its stake in iBio by 10.9% in the 3rd quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after buying an additional 17,414 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of iBio during the 3rd quarter worth approximately $399,000. 7.90% of the stock is currently owned by institutional investors.

About iBio

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.