Canaccord Genuity Group Reiterates “Buy” Rating for Cibus (NASDAQ:CBUS)

Canaccord Genuity Group reaffirmed their buy rating on shares of Cibus (NASDAQ:CBUS) in a research note issued to investors on Friday morning, Marketbeat reports. They currently have a $22.00 target price on the stock.

Separately, HC Wainwright reissued a buy rating and set a $25.00 price objective on shares of Cibus in a report on Friday, May 10th.

Cibus Price Performance

Cibus stock opened at $9.40 on Friday. The stock has a market cap of $202.57 million, a PE ratio of -0.51 and a beta of 1.91. The stock’s fifty day moving average is $11.74 and its two-hundred day moving average is $15.89. Cibus has a 1-year low of $7.41 and a 1-year high of $23.18.

Cibus (NASDAQ:CBUS) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). The business had revenue of $0.55 million during the quarter, compared to analysts’ expectations of $0.40 million. Cibus had a negative net margin of 12,313.28% and a negative return on equity of 23.33%. During the same quarter in the previous year, the company posted ($5.45) EPS. On average, research analysts expect that Cibus will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Cibus

A number of hedge funds and other institutional investors have recently made changes to their positions in CBUS. Vanguard Group Inc. boosted its position in shares of Cibus by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock valued at $16,215,000 after purchasing an additional 26,017 shares during the period. Indie Asset Partners LLC increased its position in Cibus by 30.1% during the fourth quarter. Indie Asset Partners LLC now owns 16,929 shares of the company’s stock worth $332,000 after buying an additional 3,921 shares during the period. Blue Trust Inc. purchased a new stake in Cibus in the fourth quarter valued at approximately $301,000. Cerity Partners LLC acquired a new stake in shares of Cibus in the fourth quarter valued at approximately $323,000. Finally, Citigroup Inc. purchased a new position in shares of Cibus during the third quarter worth approximately $199,000. Institutional investors and hedge funds 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.