Cibus (NASDAQ:CBUS) Given New $18.00 Price Target at Canaccord Genuity Group

Cibus (NASDAQ:CBUS - Free Report) had its price objective cut by Canaccord Genuity Group from $20.00 to $18.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on the company. 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 lowered their target price on Cibus from $25.00 to $23.50 and set a "buy" rating on the stock in a research report on Tuesday, September 24th.

Cibus Stock Up 11.1 %

Shares of NASDAQ CBUS traded up $0.26 during trading hours on Wednesday, reaching $2.60. 210,769 shares of the stock traded hands, compared to its average volume of 170,936. Cibus has a 52-week low of $2.16 and a 52-week high of $23.18. The company has a market capitalization of $68.80 million, a P/E ratio of -0.12 and a beta of 1.85. The company's 50-day simple moving average is $3.50 and its two-hundred day simple moving average is $5.14.

Cibus (NASDAQ:CBUS - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.95. The business 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 last year, the business posted ($1.59) EPS. As a group, sell-side analysts forecast that Cibus will post -2.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CBUS. FMR LLC lifted its stake in shares of Cibus by 16.9% in the 3rd quarter. FMR LLC now owns 3,913,279 shares of the company's stock valued at $12,757,000 after purchasing an additional 566,328 shares during the period. Armistice Capital LLC purchased a new stake in Cibus in the second quarter valued at $5,083,000. State Street Corp lifted its holdings in shares of Cibus by 43.6% in the 3rd quarter. State Street Corp now owns 307,262 shares of the company's stock worth $1,002,000 after acquiring an additional 93,236 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cibus in the second quarter valued at $529,000. Finally, Charles Schwab Investment Management Inc. grew its position in Cibus by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 49,285 shares of the company's stock valued at $161,000 after acquiring an additional 6,276 shares in the last quarter. 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.