Truist Financial Corp Decreases Stake in Cibus, Inc. (NASDAQ:CBUS)

Truist Financial Corp cut its stake in shares of Cibus, Inc. (NASDAQ:CBUS) by 21.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,825 shares of the company’s stock after selling 6,341 shares during the quarter. Truist Financial Corp owned about 0.11% of Cibus worth $235,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Armistice Capital LLC purchased a new stake in Cibus during the 2nd quarter valued at about $5,083,000. Squarepoint Ops LLC acquired a new stake in shares of Cibus during the second quarter worth about $214,000. Old West Investment Management LLC boosted its position in Cibus by 3.6% in the second quarter. Old West Investment Management LLC now owns 53,247 shares of the company’s stock valued at $524,000 after buying an additional 1,868 shares during the last quarter. FineMark National Bank & Trust increased its holdings 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 during the period. Finally, Rhumbline Advisers purchased a new position in Cibus during the 2nd quarter worth approximately $221,000. 33.81% of the stock is owned by institutional investors and hedge funds.

Cibus Trading Up 3.8 %

Cibus stock opened at $3.59 on Friday. The firm has a market cap of $77.35 million, a PE ratio of -0.20 and a beta of 1.81. Cibus, Inc. has a 12 month low of $2.86 and a 12 month high of $23.18. The stock’s 50 day simple moving average is $5.07 and its two-hundred day simple moving average is $10.22.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CBUS. Alliance Global Partners dropped their price objective 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. Canaccord Genuity Group lowered their price target on shares of Cibus from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Canaccord Genuity Group upgraded Cibus to a “strong-buy” rating in a research note on Friday, July 19th.

Cibus 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.