Cibus (NASDAQ:CBUS) PT Lowered to $20.00 at Canaccord Genuity Group

Cibus (NASDAQ:CBUS) had its price objective decreased by research analysts at Canaccord Genuity Group from $21.00 to $20.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 415.46% from the stock’s previous close.

Several other research analysts have also recently issued reports on CBUS. Alliance Global Partners initiated coverage on shares of Cibus in a report on Monday, July 29th. They issued a “buy” rating and a $25.00 price objective for the company. Canaccord Genuity Group upgraded shares of Cibus to a “strong-buy” rating in a report on Friday, July 19th.

Cibus Price Performance

Shares of Cibus stock traded up $0.28 on Thursday, hitting $3.88. The company had a trading volume of 226,323 shares, compared to its average volume of 124,132. The business has a 50-day simple moving average of $7.66 and a 200-day simple moving average of $12.77. The company has a market cap of $83.59 million, a PE ratio of -0.21 and a beta of 1.84. Cibus has a 52 week low of $3.58 and a 52 week high of $23.18.

Cibus (NASDAQ:CBUS) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.33). The company had revenue of $0.84 million during 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 quarter last year, the business earned ($3.05) earnings per share. On average, equities research analysts predict that Cibus will post -3.84 earnings per share for the current fiscal year.

Institutional Trading of Cibus

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Cibus by 3.7% during the first quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock worth $16,215,000 after buying an additional 26,017 shares in the last quarter. FineMark National Bank & Trust boosted its holdings in Cibus by 24.3% during the second 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 bought a new stake in Cibus during the second quarter worth approximately $214,000. Rhumbline Advisers bought a new stake in Cibus during the second quarter worth approximately $221,000. Finally, Armistice Capital LLC bought a new stake in Cibus during the second quarter worth approximately $5,083,000. 33.81% of the stock is currently owned by 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.