Alliance Global Partners Lowers Cibus (NASDAQ:CBUS) Price Target to $23.50

Cibus (NASDAQ:CBUS) had its price objective reduced by analysts at Alliance Global Partners from $25.00 to $23.50 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock.

Several other equities research analysts also recently weighed in on CBUS. Canaccord Genuity Group raised shares of Cibus to a “strong-buy” rating in a research report on Friday, July 19th. Canaccord Genuity Group decreased their price target on Cibus from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 19th.

Cibus Price Performance

Cibus stock opened at $3.36 on Tuesday. The firm’s fifty day moving average price is $7.02 and its 200 day moving average price is $12.25. The company has a market capitalization of $77.58 million, a price-to-earnings ratio of -0.18 and a beta of 1.84. Cibus has a 12-month low of $3.33 and a 12-month high of $23.18.

Cibus (NASDAQ:CBUS) last released its 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). The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.44 million. Cibus had a negative net margin of 9,856.84% and a negative return on equity of 29.05%. During the same quarter last year, the company posted ($3.05) earnings per share. Analysts forecast that Cibus will post -3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cibus

A number of hedge funds have recently added to or reduced their stakes in CBUS. Armistice Capital LLC bought a new position in shares of Cibus in the 2nd quarter worth about $5,083,000. Squarepoint Ops LLC acquired a new stake in Cibus during the second quarter worth about $214,000. Old West Investment Management LLC lifted 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 acquiring an additional 1,868 shares during the last quarter. FineMark National Bank & Trust boosted its stake 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 acquiring an additional 4,000 shares during the period. Finally, Rhumbline Advisers bought a new position in shares of Cibus during the second quarter valued at approximately $221,000. 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.