Canaccord Genuity Group reiterated their buy rating on shares of Cibus (NASDAQ:CBUS – Free Report) in a research note released on Tuesday, Benzinga reports. They currently have a $20.00 price objective on the stock.
Several other equities analysts have also recently weighed in on CBUS. Alliance Global Partners cut their price objective on Cibus from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Canaccord Genuity Group upgraded Cibus to a “strong-buy” rating in a research note on Friday, July 19th.
View Our Latest Analysis on CBUS
Cibus Trading Down 3.0 %
Cibus (NASDAQ:CBUS – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.33). Cibus had a negative return on equity of 29.05% and a negative net margin of 9,856.84%. The company had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.44 million. During the same period in the prior year, the firm earned ($3.05) EPS. As a group, sell-side analysts forecast that Cibus will post -3.84 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cibus
Several large investors have recently modified their holdings of the stock. Armistice Capital LLC acquired a new position in shares of Cibus in the 2nd quarter worth approximately $5,083,000. Bank of New York Mellon Corp acquired a new position in shares of Cibus in the 2nd quarter worth approximately $529,000. Vanguard Group Inc. boosted its holdings in shares of Cibus by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock worth $16,215,000 after acquiring an additional 26,017 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Cibus in the 2nd quarter worth approximately $221,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Cibus in the 2nd quarter worth approximately $214,000. 33.81% of the stock is currently owned by institutional investors.
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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