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

Cibus (NASDAQ:CBUS) had its target price lowered by Canaccord Genuity Group from $20.00 to $18.00 in a research note 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. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cibus in a report on Monday, November 11th. Alliance Global Partners cut 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.

Cibus Trading Up 11.1 %

NASDAQ CBUS opened at $2.60 on Wednesday. The stock has a market capitalization of $68.80 million, a price-to-earnings ratio of -0.12 and a beta of 1.85. The business’s 50 day moving average is $3.50 and its two-hundred day moving average is $5.14. 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 data on Thursday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.95. The firm had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $0.47 million. Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%. During the same quarter in the prior year, the business posted ($1.59) earnings per share. Equities analysts forecast that Cibus will post -2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cibus

Several institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new stake in Cibus in the 3rd quarter valued at about $44,000. Virtu Financial LLC acquired a new position in Cibus during the third quarter worth approximately $48,000. Barclays PLC raised its stake in Cibus by 287.2% during the third quarter. Barclays PLC now owns 20,269 shares of the company’s stock worth $66,000 after purchasing an additional 15,034 shares during the period. Wellington Management Group LLP acquired a new position in shares of Cibus in the 3rd quarter valued at $111,000. Finally, State Street Corp grew its stake in shares of Cibus by 43.6% during the 3rd quarter. State Street Corp now owns 307,262 shares of the company’s stock valued at $1,002,000 after buying an additional 93,236 shares during the period. 33.81% of the stock is currently owned by institutional investors and hedge funds.

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.