Cibus (NASDAQ:CBUS) Posts Earnings Results, Misses Estimates By $0.19 EPS

Cibus (NASDAQ:CBUS) issued its earnings results on Thursday. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19), Zacks reports. Cibus had a negative net margin of 10,724.78% and a negative return on equity of 28.17%.

Cibus Stock Down 7.6 %

CBUS stock traded down $0.18 during midday trading on Thursday, hitting $2.19. 146,419 shares of the company traded hands, compared to its average volume of 164,893. Cibus has a twelve month low of $1.80 and a twelve month high of $23.18. The business has a 50 day simple moving average of $2.35 and a 200-day simple moving average of $3.39. The stock has a market capitalization of $57.94 million, a price-to-earnings ratio of -0.10 and a beta of 2.04.

Hedge Funds Weigh In On Cibus

A hedge fund recently raised its stake in Cibus stock. Bank of America Corp DE lifted its stake in Cibus, Inc. (NASDAQ:CBUS) by 113.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,536 shares of the company’s stock after acquiring an additional 18,885 shares during the period. Bank of America Corp DE owned approximately 0.13% of Cibus worth $99,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their price objective on Cibus from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd.

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.