Cibus (NASDAQ:CBUS) Given New $20.00 Price Target at Canaccord Genuity Group

Cibus (NASDAQ:CBUS) had its target price lowered by Canaccord Genuity Group from $21.00 to $20.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Alliance Global Partners initiated coverage on Cibus in a report on Monday, July 29th. They set a buy rating and a $25.00 price target on the stock. Canaccord Genuity Group upgraded Cibus to a strong-buy rating in a research note on Friday, July 19th.

Cibus Price Performance

NASDAQ CBUS opened at $4.00 on Thursday. The business’s fifty day moving average price is $7.43 and its 200-day moving average price is $12.53. The stock has a market capitalization of $86.18 million, a price-to-earnings ratio of -0.22 and a beta of 1.84. Cibus has a 1-year low of $3.58 and a 1-year high of $23.18.

Cibus (NASDAQ:CBUS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.33). The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned ($3.05) earnings per share. Equities research analysts anticipate that Cibus will post -3.84 EPS for the current year.

Institutional Investors Weigh In On Cibus

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