iBio (NASDAQ:IBIO – Get Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.
A number of other equities research analysts also recently commented on IBIO. Chardan Capital reissued a “buy” rating and issued a $5.00 target price on shares of iBio in a report on Thursday, July 2nd. B. Riley Financial began coverage on shares of iBio in a research note on Friday, June 5th. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a report on Wednesday, June 24th. Finally, Raymond James Financial initiated 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 issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.00.
Read Our Latest Stock Report on iBio
iBio Trading Down 0.4%
iBio (NASDAQ:IBIO – Get Free Report) last posted its quarterly earnings results on Friday, August 28th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. On average, equities analysts forecast that iBio will post -0.41 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC increased its holdings in iBio by 333.0% during 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 in the last quarter. Jefferies Financial Group Inc. acquired a new position in iBio during the fourth quarter worth about $309,000. Noesis Capital Mangement Corp purchased a new stake in shares of iBio in the fourth quarter valued at about $433,000. Monashee Investment Management LLC purchased a new stake in shares of iBio in the fourth quarter valued at about $530,000. Finally, Bank of America Corp DE lifted its holdings in shares of iBio by 150.8% in the first quarter. Bank of America Corp DE now owns 290,413 shares of the company’s stock valued at $552,000 after purchasing an additional 174,620 shares in the last quarter. Hedge funds and other institutional investors own 7.90% of the company’s stock.
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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