Cibus, Inc. (NASDAQ:CBUS) Sees Large Decrease in Short Interest

Cibus, Inc. (NASDAQ:CBUS) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 1,850,000 shares, a drop of 9.3% from the September 30th total of 2,040,000 shares. Based on an average trading volume of 198,900 shares, the short-interest ratio is presently 9.3 days. Currently, 10.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages have weighed in on CBUS. Alliance Global Partners lowered their target price 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. Canaccord Genuity Group upgraded shares of Cibus to a “strong-buy” rating in a research note on Friday, July 19th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $20.00 target price on shares of Cibus in a research note on Tuesday, October 22nd.

Cibus Trading Up 0.2 %

Shares of NASDAQ CBUS traded up $0.01 during midday trading on Wednesday, reaching $4.17. The company had a trading volume of 39,374 shares, compared to its average volume of 134,879. The business’s 50-day simple moving average is $4.52 and its 200 day simple moving average is $9.39. The stock has a market cap of $89.84 million, a P/E ratio of -0.23 and a beta of 1.81. Cibus has a 1 year low of $2.86 and a 1 year high of $23.18.

Cibus (NASDAQ:CBUS) last posted 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). The company had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.44 million. Cibus had a negative return on equity of 29.05% and a negative net margin of 9,856.84%. During the same period in the prior year, the business posted ($3.05) EPS. Analysts predict that Cibus will post -3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CBUS. SG Americas Securities LLC purchased a new position in shares of Cibus during the third quarter worth $33,000. FineMark National Bank & Trust raised its holdings in shares of Cibus by 24.3% during the second quarter. FineMark National Bank & Trust now owns 20,488 shares of the company’s stock worth $202,000 after purchasing an additional 4,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Cibus during the second quarter worth $214,000. Rhumbline Advisers purchased a new position in shares of Cibus during the second quarter worth $221,000. Finally, Old West Investment Management LLC increased its holdings 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 in the last quarter. 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.