Canaccord Genuity Group Issues Pessimistic Forecast for Cibus (NASDAQ:CBUS) Stock Price

Cibus (NASDAQ:CBUS) had its price objective lowered by investment analysts at Canaccord Genuity Group from $18.00 to $17.50 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cibus in a report on Friday, March 21st.

Cibus Stock Down 8.5%

Shares of Cibus stock opened at $2.15 on Monday. The firm has a market cap of $70.63 million, a price-to-earnings ratio of -0.10 and a beta of 1.70. The business has a fifty day simple moving average of $1.98 and a 200-day simple moving average of $2.82. Cibus has a fifty-two week low of $1.40 and a fifty-two week high of $19.56.

Cibus (NASDAQ:CBUS) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%. Analysts anticipate that Cibus will post -2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cibus

A number of institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL bought a new stake in shares of Cibus in the 1st quarter valued at about $28,000. IFP Advisors Inc bought a new stake in shares of Cibus during the fourth quarter worth $36,000. Sei Investments Co. bought a new stake in shares of Cibus during the fourth quarter worth $49,000. XTX Topco Ltd bought a new position in Cibus in the fourth quarter valued at $61,000. Finally, Commonwealth Equity Services LLC bought a new position in Cibus in the fourth quarter valued at $62,000. 33.81% of the stock is owned by institutional investors and hedge funds.

Cibus Company Profile

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.