iBio (NASDAQ:IBIO) Stock Lifted to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of iBio (NASDAQ:IBIO) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

IBIO has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a report on Monday, September 21st. HC Wainwright started coverage on iBio in a research report on Thursday, September 17th. They issued a “buy” rating and a $7.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.00.

iBio Stock Performance

Shares of NASDAQ:IBIO traded down $0.03 during midday trading on Friday, hitting $0.73. The company’s stock had a trading volume of 462,099 shares, compared to its average volume of 499,038. The stock has a market capitalization of $51.56 million, a price-to-earnings ratio of -2.61 and a beta of 1.47. The stock’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.63. iBio has a fifty-two week low of $0.69 and a fifty-two week high of $3.82.

iBio (NASDAQ:IBIO) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $0.03 million. As a group, analysts anticipate that iBio will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC grew 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 purchasing an additional 1,050,000 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of iBio during the second quarter valued at approximately $873,000. Walleye Capital LLC raised its stake in shares of iBio by 95.9% in the first quarter. Walleye Capital LLC now owns 388,554 shares of the company’s stock valued at $738,000 after purchasing an additional 190,179 shares in the last quarter. Bank of America Corp DE raised its stake 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. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of iBio in the third quarter valued at $105,000. Institutional investors and hedge funds own 7.90% of the company’s stock.

iBio Company Profile

iBio, Inc. is a biotechnology company focused on using artificial intelligence and other computational tools to discover and develop therapies. Its research has included programs targeting obesity and metabolic diseases, as well as oncology. The company’s current approach builds on its earlier work in biologics manufacturing. Historically, iBio used its plant-based FastPharming platform to produce proteins and antibodies for research and therapeutic development. iBio is based in the United States and has shifted its focus from plant-based biologics production toward AI-enabled drug discovery.