Robert L. Erwin

IBIO

PRESIDENT · IBIO, INC. · CIK 0001213822

FILING MIX · LIFETIME33%/67%

BUYS

SELLS

TOTAL VALUE

$319.7K

COMPANIES

ACTIVE SINCE

Jun 2020

HOLDINGS NOW

108,108

AVG SELL PX

$1.64

Trades · vs SPY

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Performance · forward returns vs SPY

2 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Robert L. Erwin, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	2	+100.00%	-13.46%	+0.34%	-13.80%	-13.80%	—
14d	2	+100.00%	-7.77%	+0.86%	-8.63%	-8.63%	—
30d	2	+0.00%	+17.74%	+1.26%	+16.49%	+16.49%	—
60d	2	+0.00%	+169.09%	+6.26%	+162.84%	+162.84%	—
90d	2	+0.00%	+23.19%	+14.63%	+8.55%	+8.55%	—
180d	2	+100.00%	-11.67%	+18.53%	-30.20%	-30.20%	—
1y	2	+100.00%	-14.68%	+38.27%	-52.94%	-52.94%	—
2y	2	+100.00%	-85.27%	+37.61%	-122.88%	-122.88%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

IBIO · 108,108 shares · as of Jun 4, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 2 buys / 4 sellsCOVERAGE · 1 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
IBIO IBIO, INC.	SALE President	28,268	$1.71	$48.3K	108,108	Jun 4, 2020	Jun 8, 2020 ↗
IBIO IBIO, INC.	PURCHASE President	28,268	$0.93	$26.3K	108,108	Jun 4, 2020	Jun 8, 2020 ↗
IBIO IBIO, INC.	SALE President	28,268	—	—	108,108	Jun 4, 2020	Jun 8, 2020 ↗
IBIO IBIO, INC.	SALE President	96,124	$1.62	$155.7K	136,376	Jun 2, 2020	Jun 5, 2020 ↗
IBIO IBIO, INC.	PURCHASE President	96,124	$0.93	$89.4K	136,376	Jun 2, 2020	Jun 5, 2020 ↗
IBIO IBIO, INC.	SALE President	96,124	—	—	136,376	Jun 2, 2020	Jun 5, 2020 ↗

Other insiders · IBIO

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About this filer

CIK 0001213822

ROLE

President

PRIMARY

IBIO

COMPANIES

ACTIVE SINCE

Jun 2020

MARKETPEEL · /INSIDER/0001213822DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Robert L. Erwin

The morning brief, before the bell.