iBio (NASDAQ:IBIO) Stock Price Down 3.6% – Here’s Why

iBio, Inc. (NASDAQ:IBIO)’s share price traded down 3.6% on Thursday . The company traded as low as $2.10 and last traded at $2.15. 564,720 shares traded hands during trading, a decline of 81% from the average session volume of 2,931,920 shares. The stock had previously closed at $2.23.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IBIO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of iBio in a research note on Monday, December 29th. Wall Street Zen raised iBio from a “strong sell” rating to a “hold” rating in a report on Sunday, November 16th. Leerink Partners raised iBio to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Lifesci Capital raised iBio to a “strong-buy” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

iBio Price Performance

The business’s 50 day moving average price is $1.91. The stock has a market cap of $48.35 million, a PE ratio of -1.55 and a beta of 1.14.

iBio (NASDAQ:IBIO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $0.10 million during the quarter.

About iBio

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.