Canaccord Genuity Group Lowers Cibus (NASDAQ:CBUS) Price Target to $21.00

Cibus (NASDAQ:CBUS) had its price target decreased by Canaccord Genuity Group from $22.00 to $21.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 164.48% from the company’s previous close.

Several other equities analysts have also recently issued reports on CBUS. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Cibus in a research report on Friday, May 10th. Alliance Global Partners started coverage on Cibus in a report on Monday, July 29th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Canaccord Genuity Group raised Cibus to a “strong-buy” rating in a report on Friday, July 19th.

Cibus Stock Up 8.8 %

Shares of CBUS stock opened at $7.94 on Monday. Cibus has a twelve month low of $6.55 and a twelve month high of $23.18. The stock’s fifty day simple moving average is $9.35 and its 200 day simple moving average is $14.89. The firm has a market capitalization of $171.07 million, a P/E ratio of -0.43 and a beta of 1.91.

Cibus (NASDAQ:CBUS) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.33). The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.44 million. Cibus had a negative return on equity of 23.33% and a negative net margin of 12,313.28%. During the same quarter last year, the firm posted ($3.05) earnings per share. As a group, equities research analysts expect that Cibus will post -3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Cibus

A number of institutional investors have recently modified their holdings of CBUS. Old West Investment Management LLC raised its stake in Cibus by 3.6% during the second quarter. Old West Investment Management LLC now owns 53,247 shares of the company’s stock worth $524,000 after buying an additional 1,868 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Cibus in the 4th quarter valued at about $56,000. FineMark National Bank & Trust lifted its stake in shares of 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 purchasing an additional 4,000 shares during the period. Cerity Partners LLC bought a new stake in shares of Cibus during the 4th quarter valued at about $323,000. Finally, Rhumbline Advisers acquired a new stake in Cibus during the second quarter worth approximately $221,000. 33.81% of the stock is owned by institutional investors.

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.