Cibus (NASDAQ:CBUS) Rating Reiterated by Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Cibus (NASDAQ:CBUS) in a research note published on Tuesday, Benzinga reports. The firm currently has a $20.00 price target on the stock.

Several other research analysts have also commented on CBUS. Alliance Global Partners lowered their price target on Cibus from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Canaccord Genuity Group upgraded Cibus to a “strong-buy” rating in a research report on Friday, July 19th.

Cibus Stock Up 2.5 %

CBUS opened at $3.68 on Tuesday. Cibus has a 52 week low of $2.86 and a 52 week high of $23.18. The business has a fifty day simple moving average of $4.73 and a 200-day simple moving average of $9.83. The firm has a market cap of $79.29 million, a P/E ratio of -0.20 and a beta of 1.81.

Cibus (NASDAQ:CBUS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.33). Cibus had a negative return on equity of 29.05% and a negative net margin of 9,856.84%. The firm had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.44 million. During the same quarter in the prior year, the business earned ($3.05) earnings per share. Sell-side analysts expect that Cibus will post -3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new position in Cibus in the second quarter valued at $5,083,000. Vanguard Group Inc. boosted its holdings in Cibus by 3.7% in the first quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock valued at $16,215,000 after purchasing an additional 26,017 shares during the period. Rhumbline Advisers purchased a new position in Cibus in the second quarter valued at $221,000. FineMark National Bank & Trust boosted its holdings in Cibus by 24.3% in the second quarter. FineMark National Bank & Trust now owns 20,488 shares of the company’s stock valued at $202,000 after purchasing an additional 4,000 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Cibus in the second quarter valued at $529,000. 33.81% of the stock is currently owned by hedge funds and other institutional investors.

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.