iBio (NASDAQ:IBIO) Stock Rating Lowered by Wall Street Zen

iBio (NASDAQ:IBIO) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other brokerages have also issued reports on IBIO. JonesTrading began coverage on shares of iBio in a research report on Tuesday, March 3rd. They set a “buy” rating and a $7.00 target price on the stock. Chardan Capital restated a “buy” rating and issued a $5.00 price target on shares of iBio in a research report on Thursday, April 9th. B. Riley Financial assumed coverage on shares of iBio in a research report on Friday. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a report on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $5.00.

iBio Stock Down 5.7%

Shares of NASDAQ:IBIO opened at $1.82 on Friday. The company’s fifty day moving average is $1.84 and its two-hundred day moving average is $2.00. The company has a market cap of $90.42 million, a P/E ratio of -3.14 and a beta of 1.26. iBio has a 12-month low of $0.56 and a 12-month high of $3.82.

iBio (NASDAQ:IBIO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Equities research analysts anticipate that iBio will post -0.38 earnings per share for the current year.

Insider Buying and Selling at iBio

In other news, CFO Felipe Duran acquired 24,835 shares of the stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $2.02 per share, for a total transaction of $50,166.70. Following the completion of the transaction, the chief financial officer owned 35,974 shares in the company, valued at approximately $72,667.48. This trade represents a 222.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in iBio by 150.8% in the 1st quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock valued at $552,000 after buying an additional 174,620 shares during the period. ADAR1 Capital Management LLC raised its stake in shares of iBio by 15.9% in the 1st 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 in the last quarter. Affinity Asset Advisors LLC lifted its holdings in shares of iBio by 51.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 3,107,200 shares of the company’s stock worth $5,904,000 after acquiring an additional 1,050,000 shares during the period. Walleye Capital LLC lifted its holdings in shares of iBio by 95.9% during the 1st quarter. Walleye Capital LLC now owns 388,554 shares of the company’s stock worth $738,000 after acquiring an additional 190,179 shares during the period. Finally, Noesis Capital Mangement Corp boosted its position in shares of iBio by 38.9% during the 1st quarter. Noesis Capital Mangement Corp now owns 311,500 shares of the company’s stock valued at $592,000 after acquiring an additional 87,300 shares in the last quarter. 7.90% of the stock is owned by 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.