Cibus (NASDAQ:CBUS) Stock Rating Reaffirmed by Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Cibus (NASDAQ:CBUS) in a research report report published on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a $20.00 target price on the stock.

A number of other equities research analysts have also weighed in on CBUS. Canaccord Genuity Group upgraded Cibus to a “strong-buy” rating in a research report on Friday, July 19th. Alliance Global Partners cut their price target on shares of Cibus from $25.00 to $23.50 and set a “buy” rating on the stock in a report on Tuesday, September 24th.

Cibus Stock Up 6.8 %

NASDAQ:CBUS opened at $3.93 on Tuesday. The firm has a market capitalization of $84.67 million, a P/E ratio of -0.21 and a beta of 1.81. The company has a fifty day moving average of $4.65 and a 200 day moving average of $9.72. Cibus has a 52 week low of $2.86 and a 52 week high of $23.18.

Cibus (NASDAQ:CBUS) last posted its earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.33). The firm had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.44 million. Cibus had a negative return on equity of 29.05% and a negative net margin of 9,856.84%. During the same quarter in the prior year, the company posted ($3.05) earnings per share. As a group, analysts anticipate that Cibus will post -3.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC purchased a new stake in shares of Cibus in the 2nd quarter worth about $5,083,000. Vanguard Group Inc. increased 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 purchasing an additional 26,017 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Cibus during the second quarter valued at approximately $221,000. FineMark National Bank & Trust boosted its position in shares of 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 purchasing an additional 4,000 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Cibus in the 2nd quarter worth approximately $529,000. Hedge funds and other 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.