Cibus (NASDAQ:CBUS) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Cibus (NASDAQ:CBUS) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cibus in a research report on Friday, September 25th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cibus currently has a consensus rating of “Hold” and an average price target of $9.00.

Cibus Stock Down 0.8%

NASDAQ:CBUS opened at $1.31 on Friday. Cibus has a 52 week low of $1.09 and a 52 week high of $4.19. The firm’s fifty day moving average is $1.60 and its 200-day moving average is $1.57.

Cibus (NASDAQ:CBUS) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.10). Cibus had a negative return on equity of 287.03% and a negative net margin of 2,258.89%. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.70 million. On average, research analysts forecast that Cibus will post -1.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBUS. Weiss Asset Management LP acquired a new stake in Cibus in the first quarter valued at approximately $1,758,000. Bank of America Corp DE increased its holdings in shares of Cibus by 324.2% during the first quarter. Bank of America Corp DE now owns 74,358 shares of the company’s stock valued at $147,000 after acquiring an additional 56,830 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Cibus during the first quarter valued at approximately $66,000. Rockland Trust Co. acquired a new position in shares of Cibus during the second quarter worth approximately $41,000. Finally, Renaissance Technologies LLC raised its position in shares of Cibus by 42.5% during the first 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 period. Institutional investors own 33.81% of the company’s stock.

About Cibus

Cibus, Inc is an agricultural biotechnology company focused on developing and commercializing gene-edited traits for major crops. Its technology is designed to make precise changes to a plant’s existing genes without introducing foreign DNA, supporting the development of improved crop varieties through a process intended to resemble conventional breeding.

The company’s product development programs target traits such as herbicide tolerance, disease resistance, improved yield, and other characteristics intended to benefit farmers, seed companies, and the broader food and agriculture supply chain.