Cibus (NASDAQ:CBUS) Price Target Cut to $21.00

Cibus (NASDAQ:CBUS) had its price target lowered by Canaccord Genuity Group from $22.00 to $21.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group raised Cibus to a strong-buy rating in a report on Friday, July 19th. HC Wainwright restated a buy rating and issued a $25.00 price objective on shares of Cibus in a report on Friday, May 10th. Finally, Alliance Global Partners began coverage on Cibus in a research note on Monday, July 29th. They issued a buy rating and a $25.00 target price for the company.

Cibus Stock Up 1.4 %

NASDAQ CBUS opened at $8.05 on Monday. The company’s 50 day moving average is $9.22 and its 200-day moving average is $14.78. Cibus has a 12-month low of $6.55 and a 12-month high of $23.18. The firm has a market cap of $173.44 million, a P/E ratio of -0.44 and a beta of 1.91.

Cibus (NASDAQ:CBUS) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.33). The firm had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.44 million. Cibus had a negative net margin of 12,313.28% and a negative return on equity of 23.33%. During the same quarter last year, the business posted ($3.05) earnings per share. Equities analysts expect that Cibus will post -3.22 EPS for the current year.

Institutional Investors Weigh In On Cibus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new stake in Cibus during the 2nd quarter valued at approximately $214,000. Old West Investment Management LLC raised its holdings in Cibus by 3.6% in the second quarter. Old West Investment Management LLC now owns 53,247 shares of the company’s stock worth $524,000 after purchasing an additional 1,868 shares in the last quarter. FineMark National Bank & Trust lifted its position in Cibus by 24.3% during the second quarter. FineMark National Bank & Trust now owns 20,488 shares of the company’s stock valued at $202,000 after buying an additional 4,000 shares during the period. Rhumbline Advisers bought a new stake in shares of Cibus during the 2nd quarter valued at $221,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Cibus in the 2nd quarter worth about $529,000. 33.81% of the stock is owned by hedge funds and other 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.