Canaccord Genuity Group Issues Pessimistic Forecast for Cibus (NASDAQ:CBUS) Stock Price

Cibus (NASDAQ:CBUS) had its target price reduced by stock analysts at Canaccord Genuity Group from $18.00 to $17.50 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cibus in a report on Friday, March 21st.

Cibus Stock Performance

Shares of NASDAQ CBUS opened at $2.31 on Monday. Cibus has a fifty-two week low of $1.40 and a fifty-two week high of $19.56. The company has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $2.81. The company has a market capitalization of $75.88 million, a price-to-earnings ratio of -0.10 and a beta of 1.70.

Cibus (NASDAQ:CBUS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.04). Cibus had a negative net margin of 10,724.78% and a negative return on equity of 28.17%. The firm had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $1.15 million. On average, analysts forecast that Cibus will post -2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cibus

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBUS. Barclays PLC boosted its stake in shares of Cibus by 35.1% during the 4th quarter. Barclays PLC now owns 27,375 shares of the company’s stock worth $76,000 after acquiring an additional 7,106 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Cibus by 9.2% during the 4th quarter. Northern Trust Corp now owns 152,122 shares of the company’s stock worth $423,000 after acquiring an additional 12,832 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Cibus during the 4th quarter worth $36,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cibus by 32.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 55,142 shares of the company’s stock worth $103,000 after acquiring an additional 13,583 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Cibus during the 1st quarter worth $28,000. Hedge funds and other institutional investors 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.