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

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

Several other brokerages also recently issued reports on CBUS. Alliance Global Partners assumed coverage on shares of Cibus in a research note on Monday, July 29th. They issued a buy rating and a $25.00 price objective for the company. Canaccord Genuity Group raised shares of Cibus to a strong-buy rating in a research note on Friday, July 19th.

Cibus Stock Up 3.1 %

Shares of Cibus stock opened at $4.00 on Thursday. The firm has a market cap of $86.18 million, a price-to-earnings ratio of -0.22 and a beta of 1.84. The business has a 50-day moving average price of $7.43 and a 200-day moving average price of $12.53. Cibus has a twelve month low of $3.58 and a twelve month high of $23.18.

Cibus (NASDAQ:CBUS) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.33). Cibus had a negative net margin of 9,856.84% and a negative return on equity of 29.05%. The business had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.44 million. During the same period in the previous year, the business posted ($3.05) EPS. On average, equities analysts expect that Cibus will post -3.84 EPS for the current fiscal year.

Institutional Trading of Cibus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Cibus by 3.7% during the first quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock valued at $16,215,000 after acquiring an additional 26,017 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Cibus during the second quarter valued at approximately $5,083,000. Bank of New York Mellon Corp bought a new stake in shares of Cibus during the second quarter valued at approximately $529,000. Old West Investment Management LLC raised its stake in shares of Cibus by 3.6% during the second quarter. Old West Investment Management LLC now owns 53,247 shares of the company’s stock valued at $524,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in shares of Cibus during the second quarter valued at approximately $221,000. Institutional investors own 33.81% of the company’s stock.

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.