Canaccord Genuity Group Reaffirms "Buy" Rating for Cibus (NASDAQ:CBUS)

Cibus (NASDAQ:CBUS - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Canaccord Genuity Group in a note issued to investors on Tuesday, Benzinga reports. They presently have a $20.00 price objective on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 460.22% from the company's current price.

A number of other analysts also recently issued reports on CBUS. Alliance Global Partners decreased their target price 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 raised Cibus to a "strong-buy" rating in a report on Friday, July 19th.

Cibus Price Performance

Shares of NASDAQ CBUS traded down $0.11 during mid-day trading on Tuesday, reaching $3.57. 110,288 shares of the company's stock were exchanged, compared to its average volume of 135,704. The firm has a 50-day moving average price of $4.91 and a two-hundred day moving average price of $9.92. The firm has a market capitalization of $76.92 million, a price-to-earnings ratio of -0.19 and a beta of 1.81. Cibus has a 52 week low of $2.86 and a 52 week high of $23.18.

Cibus (NASDAQ:CBUS - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $0.44 million. During the same period in the prior year, the firm posted ($3.05) EPS. As a group, sell-side analysts forecast that Cibus will post -3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Cibus

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Cibus by 3.7% in the first quarter. Vanguard Group Inc. now owns 721,945 shares of the company's stock worth $16,215,000 after buying an additional 26,017 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Cibus in the 2nd quarter worth approximately $529,000. Rhumbline Advisers bought a new position in Cibus in the 2nd quarter valued at $221,000. FineMark National Bank & Trust grew its position in shares of Cibus by 24.3% during the 2nd quarter. FineMark National Bank & Trust now owns 20,488 shares of the company's stock valued at $202,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Old West Investment Management LLC increased its holdings in shares of Cibus by 3.6% in the second quarter. Old West Investment Management LLC now owns 53,247 shares of the company's stock worth $524,000 after purchasing an additional 1,868 shares during the period. 33.81% of the stock is 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.