Cibus (NASDAQ:CBUS) Announces Earnings Results, Beats Expectations By $0.12 EPS

Cibus (NASDAQ:CBUS) released its quarterly earnings data on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.12, FiscalAI reports. The company had revenue of $0.62 million during the quarter, compared to the consensus estimate of $1.39 million. Cibus had a negative net margin of 5,681.55% and a negative return on equity of 83.67%.

Cibus Trading Down 7.4%

Shares of CBUS traded down $0.10 during mid-day trading on Thursday, hitting $1.25. 188,905 shares of the company’s stock were exchanged, compared to its average volume of 306,050. The firm has a market capitalization of $67.80 million, a P/E ratio of -0.12 and a beta of 1.62. The business’s 50 day moving average is $1.43 and its two-hundred day moving average is $1.68. Cibus has a fifty-two week low of $1.20 and a fifty-two week high of $5.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cibus in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cibus has a consensus rating of “Hold” and an average target price of $21.25.

Institutional Trading of Cibus

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. grew its holdings in Cibus by 31.0% during the 2nd quarter. Raymond James Financial Inc. now owns 53,713 shares of the company’s stock valued at $74,000 after buying an additional 12,722 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Cibus by 113.4% in the fourth quarter. Bank of America Corp DE now owns 35,536 shares of the company’s stock valued at $99,000 after acquiring an additional 18,885 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Cibus during the second quarter valued at $39,000. AQR Capital Management LLC acquired a new stake in shares of Cibus during the first quarter valued at $73,000. Finally, Jane Street Group LLC purchased a new stake in Cibus during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 33.81% of the company’s stock.

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.