Armistice Capital LLC Acquires New Position in Cibus, Inc. (NASDAQ:CBUS)

Armistice Capital LLC acquired a new stake in shares of Cibus, Inc. (NASDAQ:CBUS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 516,000 shares of the company's stock, valued at approximately $5,083,000. Armistice Capital LLC owned 2.39% of Cibus at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FineMark National Bank & Trust increased its holdings in Cibus by 24.3% in the 2nd quarter. FineMark National Bank & Trust now owns 20,488 shares of the company's stock valued at $202,000 after acquiring an additional 4,000 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Cibus in the 2nd quarter valued at $214,000. Rhumbline Advisers bought a new stake in Cibus in the 2nd quarter valued at $221,000. Old West Investment Management LLC increased its holdings in Cibus by 3.6% in the 2nd quarter. Old West Investment Management LLC now owns 53,247 shares of the company's stock valued at $524,000 after acquiring an additional 1,868 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Cibus in the 2nd quarter valued at $529,000. 33.81% of the stock is currently owned by institutional investors.

Cibus Trading Down 1.8 %

Shares of CBUS stock traded down $0.06 during trading hours on Friday, reaching $3.35. 218,409 shares of the stock were exchanged, compared to its average volume of 130,409. Cibus, Inc. has a 12-month low of $3.33 and a 12-month high of $23.18. The company's 50-day moving average price is $6.90 and its 200-day moving average price is $12.19. The firm has a market capitalization of $72.18 million, a price-to-earnings ratio of -0.18 and a beta of 1.84.

Cibus (NASDAQ:CBUS - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.14) EPS 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 firm had revenue of $0.84 million for the quarter, compared to analysts' expectations of $0.44 million. During the same period in the prior year, the firm posted ($3.05) earnings per share. On average, sell-side analysts expect that Cibus, Inc. will post -3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Cibus to a "strong-buy" rating in a report on Friday, July 19th. Canaccord Genuity Group dropped their price objective on shares of Cibus from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. Finally, Alliance Global Partners dropped their price objective on shares of Cibus from $25.00 to $23.50 and set a "buy" rating for the company in a research note on Tuesday.

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.