IBIO Stock Price: iBioPharma Inc to attract Robinhood bargain-seekers amid doubtful Russia's vaccine
|- NYSEAMERICAN: IBIO is on course to kick off Wednesday's trade with an increase of 3%.
- Ibio Inc's shares were cut by a quarter on Tuesday after disappointing earnings.
- Plant-based coronavirus vaccines may return to vogue amid skepticism about Russia's vaccine announcement.
From being too expensive to becoming too cheap? That could be the thinking behind the pre-market price rise that NYSEAMERICAN: IBIO is experiencing on Wednesday.
Ibio Inc's share price collapsed by 25.2% on Tuesday after the Bryan, Texas-based pharma firm published disappointing earnings figures. Chris Markoch at Investor Place called readers to "stay away from iBio until it has more than a story."
Apart from earnings, investors are watching other companies move forward with vaccine candidates and are casting doubt that Ibio can stay in the race, despite its promising FastPharming technology. Using plants sounds promising, but academia and pharma firms are sticking to traditional labs for now.
That crash by a quarter came on the same day that Russia announced it registered the world's first COVID-19 vaccine. President Vladimir Putin came out with the "Sputnik" immunization and stunned watchers. However, it quickly became apparent that the successor of the Soviet Union did not repeat its 1950s Sputnik achievement.
Tests were rushed – with scientists and the president's daughter being inoculated rather than a proper 30,000-strong Phase 3 tests. US President Donald Trump reacted by pledging funds to Moderna, a Massachusets-based company that is engaged in such a Phase 3 trial.
The race remains on – and there may be more than one winner. Ibio's rapid manufacturing technology could prove useful in distributing the vaccine quickly. And that may be attracting bargain-seekers, especially Robinhood users.
Rapid production may beat rapid development of a coronavirus vaccine.
IBIO stock forecast
Wednesday's after-hours pricing is pointing to an increase from Tuesday close of $2.76. While NYSEAMERICAN: IBIO crashed some 25% – and more than 50% from the 52-week high of $7.45 – it is well above the levels seen early in the year.
Downside levels to watch include $2.15, $1.70, and $1. Looking up, $3.70, $4.30, and $5.60 are of interest.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.