Cibus (NASDAQ:CBUS) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Cibus (NASDAQ:CBUS) posted its quarterly earnings results on Thursday. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19), Zacks reports. Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%.

Cibus Stock Down 7.6 %

CBUS traded down $0.18 during trading on Thursday, reaching $2.19. 146,419 shares of the company’s stock were exchanged, compared to its average volume of 164,893. Cibus has a fifty-two week low of $1.80 and a fifty-two week high of $23.18. The business has a 50 day moving average price of $2.35 and a 200 day moving average price of $3.39. The company has a market capitalization of $57.94 million, a P/E ratio of -0.10 and a beta of 2.04.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price target on shares of Cibus from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd.

Institutional Investors Weigh In On Cibus

A hedge fund recently raised its stake in Cibus stock. Bank of America Corp DE raised its stake in shares of Cibus, Inc. (NASDAQ:CBUS) by 113.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,536 shares of the company’s stock after acquiring an additional 18,885 shares during the quarter. Bank of America Corp DE owned approximately 0.13% of Cibus worth $99,000 as of its most recent filing with the SEC. 33.81% of the stock is owned by institutional investors.

About Cibus

Cibus, Inc, a agricultural biotechnology company, develops and licenses plant traits to seed companies for royalties. The company primarily focus on trait productivity in two areas, including productivity traits that enable farmers to have higher yields and reduce the use of the crop protection chemicals and fertilizers; and sustainable ingredients that enable corporations to replace ingredients that are fossil fuel based or whose production results in increased greenhouse gases.