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.
Other equities research analysts have also issued reports about the company. B. Riley Financial started coverage on iBio in a research report on Friday, June 5th. They set a “buy” rating and a $6.00 price target on the stock. Chardan Capital reissued a “buy” rating and set a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of iBio in a research report on Wednesday, June 24th. Finally, Raymond James Financial started coverage on shares of iBio in a report on Monday, June 8th. They issued an “outperform” rating and a $5.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $5.00.
Check Out Our Latest Stock Report on IBIO
iBio Stock Performance
Institutional Trading of iBio
Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in iBio in the 4th quarter worth about $71,000. Persistent Asset Partners Ltd acquired a new position in shares of iBio during the fourth quarter worth approximately $76,000. Susquehanna International Group LLP bought a new position in iBio in the 3rd quarter worth approximately $37,000. Headlands Technologies LLC increased its position in iBio by 333.0% in the 2nd quarter. Headlands Technologies LLC now owns 47,413 shares of the company’s stock valued at $83,000 after acquiring an additional 36,463 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in iBio in the 1st quarter valued at approximately $224,000. 7.90% of the stock is currently 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.
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