Cibus (NASDAQ:CBUS) Shares Up 5.7% – Still a Buy?

Cibus, Inc. (NASDAQ:CBUS)’s stock price traded up 5.7% during trading on Tuesday . The stock traded as high as $1.90 and last traded at $1.86. Approximately 213,193 shares traded hands during trading, a decline of 56% from the average session volume of 484,861 shares. The stock had previously closed at $1.76.

Analysts Set New Price Targets

A number of research firms recently issued reports on CBUS. Weiss Ratings downgraded shares of Cibus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Jefferies Financial Group upped their price objective on shares of Cibus from $1.90 to $3.00 and gave the stock a “hold” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cibus currently has an average rating of “Hold” and an average price target of $9.00.

Cibus Price Performance

The company has a market cap of $135.87 million, a PE ratio of -0.90 and a beta of 1.65. The business’s 50 day moving average is $1.49 and its 200-day moving average is $1.97.

Cibus (NASDAQ:CBUS) last announced its earnings results on Thursday, May 14th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The firm had revenue of $1.68 million during the quarter, compared to analyst estimates of $1.61 million. Cibus had a negative net margin of 2,366.33% and a negative return on equity of 200.87%. As a group, sell-side analysts predict that Cibus, Inc. will post -1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockland Trust Co. acquired a new position in shares of Cibus in the 2nd quarter valued at about $41,000. Bank of America Corp DE increased its position in shares of Cibus by 324.2% in the 1st quarter. Bank of America Corp DE now owns 74,358 shares of the company’s stock worth $147,000 after purchasing an additional 56,830 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Cibus during the first quarter valued at approximately $1,758,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Cibus during the first quarter worth $66,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Cibus by 42.5% in the 1st quarter. Renaissance Technologies LLC now owns 98,900 shares of the company’s stock worth $196,000 after purchasing an additional 29,500 shares during the last quarter. Institutional investors and hedge funds own 33.81% of the company’s stock.

About Cibus

Cibus, Inc is a biotechnology company specializing in precision gene editing for agricultural applications. Leveraging its proprietary Rapid Trait Development System (RTDS), Cibus develops improved crop traits without the introduction of foreign DNA. The company’s platform enables targeted modifications to plant genomes, allowing for enhanced disease resistance, herbicide tolerance and yield optimization in key row crops.

The company’s core business centers on trait development services and licensing partnerships.