Canaccord Genuity Group Lowers Cibus (NASDAQ:CBUS) Price Target to $18.00

Cibus (NASDAQ:CBUS) had its target price lowered by investment analysts at Canaccord Genuity Group from $20.00 to $18.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

CBUS has been the topic of several other research reports. Alliance Global Partners dropped their price objective on Cibus from $25.00 to $23.50 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cibus in a research note on Monday, November 11th.

Cibus Stock Up 1.2 %

CBUS stock opened at $2.63 on Wednesday. The firm has a market cap of $69.59 million, a PE ratio of -0.12 and a beta of 1.85. The business has a 50 day moving average of $3.45 and a 200-day moving average of $5.13. Cibus has a 12-month low of $2.16 and a 12-month high of $23.18.

Cibus (NASDAQ:CBUS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.06 EPS for the quarter, beating 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 the consensus estimate of $0.47 million. During the same quarter in the prior year, the business earned ($1.59) earnings per share. On average, research analysts expect that Cibus will post -2.96 earnings per share for the current year.

Institutional Investors Weigh In On Cibus

Several institutional investors have recently made changes to their positions in CBUS. Bank of New York Mellon Corp purchased a new stake in shares of Cibus during the second quarter worth $529,000. Rhumbline Advisers purchased a new stake in shares of Cibus during the second quarter worth $221,000. Squarepoint Ops LLC purchased a new stake in shares of Cibus during the second quarter worth $214,000. Armistice Capital LLC purchased a new stake in shares of Cibus during the second quarter worth $5,083,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Cibus during the third quarter worth $33,000. Hedge funds and other 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.