iBio (NYSE:IBIO) Shares Down 1.8% – Should You Sell?

iBio, Inc. (NYSE:IBIO)’s stock price fell 1.8% during mid-day trading on Wednesday . The stock traded as low as $2.02 and last traded at $2.20. 1,103,780 shares changed hands during trading, a decline of 60% from the average session volume of 2,777,224 shares. The stock had previously closed at $2.24.

Wall Street Analysts Forecast Growth

IBIO has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of iBio in a research report on Wednesday, October 29th. Leerink Partners initiated coverage on shares of iBio in a research note on Friday, October 17th. They set an “outperform” rating and a $2.00 target price on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $4.00.

iBio Stock Down 1.8%

The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $49.47 million, a PE ratio of -1.58 and a beta of 1.14. The company’s 50 day moving average is $2.00 and its two-hundred day moving average is $1.30.

Hedge Funds Weigh In On iBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBIO. Ameriprise Financial Inc. bought a new stake in iBio in the 3rd quarter worth approximately $399,000. Boothbay Fund Management LLC grew its holdings in shares of iBio by 10.9% in the third quarter. Boothbay Fund Management LLC now owns 176,862 shares of the company’s stock valued at $146,000 after purchasing an additional 17,414 shares in the last quarter. Citadel Advisors LLC bought a new stake in iBio in the third quarter worth $109,000. Mountain Capital Investment Advisors Inc. bought a new stake in iBio in the fourth quarter worth $122,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in iBio during the first quarter valued at $224,000. 7.90% of the stock is owned by institutional investors.

iBio Company Profile

iBio, Inc (NYSE: IBIO) is a biotechnology company that develops and manufactures plant-based biologics, including vaccines and therapeutic proteins. Leveraging proprietary technology derived from Nicotiana benthamiana, a relative of tobacco, iBio applies a molecular farming approach to produce complex proteins more rapidly and with greater scalability than traditional cell-culture methods. The company’s core expertise lies in its ability to design, express and purify recombinant proteins for both research and commercial applications.

Central to iBio’s operations is the iBio CDM™ (cGMP-Direct Manufacture) platform, an integrated system that enables end-to-end development and production of biologics.