Cibus (NASDAQ:CBUS) Price Target Cut to $18.00 by Analysts at Canaccord Genuity Group

Cibus (NASDAQ:CBUS) had its price target lowered by Canaccord Genuity Group from $20.00 to $18.00 in a research note published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. Alliance Global Partners dropped their price target on shares of Cibus from $25.00 to $23.50 and set a “buy” rating for the company in a research note on Tuesday, September 24th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Cibus in a research report on Monday, November 11th.

Cibus Price Performance

Shares of CBUS stock opened at $2.60 on Wednesday. The company’s fifty day moving average price is $3.50 and its two-hundred day moving average price is $5.14. The firm has a market capitalization of $68.80 million, a P/E ratio of -0.12 and a beta of 1.85. Cibus has a 12 month low of $2.16 and a 12 month high of $23.18.

Cibus (NASDAQ:CBUS) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.89) by $0.95. Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%. The business had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $0.47 million. During the same quarter in the previous year, the firm posted ($1.59) earnings per share. On average, sell-side analysts anticipate that Cibus will post -2.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new stake in Cibus in the third quarter worth $44,000. Virtu Financial LLC bought a new position in shares of Cibus during the third quarter worth about $48,000. Barclays PLC increased its holdings in shares of Cibus by 287.2% in the 3rd quarter. Barclays PLC now owns 20,269 shares of the company’s stock worth $66,000 after acquiring an additional 15,034 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Cibus in the 3rd quarter worth about $111,000. Finally, State Street Corp lifted its position in Cibus by 43.6% in the 3rd quarter. State Street Corp now owns 307,262 shares of the company’s stock valued at $1,002,000 after purchasing an additional 93,236 shares during the last quarter. Institutional investors and hedge funds 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.