Cibus (NASDAQ:CBUS – Get Free Report) posted its earnings results on Thursday. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate 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%. The company had revenue of $1.21 million during the quarter, compared to analyst estimates of $1.13 million.
Cibus Stock Down 7.6 %
NASDAQ:CBUS opened at $2.19 on Friday. The company has a fifty day simple moving average of $2.34 and a two-hundred day simple moving average of $3.38. The company has a market cap of $57.94 million, a price-to-earnings ratio of -0.10 and a beta of 2.04. Cibus has a 52 week low of $1.80 and a 52 week high of $23.18.
Analyst Ratings Changes
Separately, Canaccord Genuity Group dropped their target price on shares of Cibus from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd.
Hedge Funds Weigh In On Cibus
A hedge fund recently raised its stake in Cibus stock. Bank of America Corp DE lifted its position in shares of Cibus, Inc. (NASDAQ:CBUS – Free Report) by 113.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,536 shares of the company’s stock after purchasing an additional 18,885 shares during the period. Bank of America Corp DE owned about 0.13% of Cibus worth $99,000 at the end of the most recent reporting period. Institutional investors own 33.81% of the company’s stock.
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.
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