Alliance Global Partners Lowers Cibus (NASDAQ:CBUS) Price Target to $23.50

Cibus (NASDAQ:CBUS) had its price objective decreased by Alliance Global Partners from $25.00 to $23.50 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock.

A number of other brokerages have also weighed in on CBUS. Canaccord Genuity Group lowered their target price on Cibus from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Canaccord Genuity Group upgraded Cibus to a “strong-buy” rating in a research note on Friday, July 19th.

Cibus Stock Up 1.7 %

Cibus stock traded up $0.06 during mid-day trading on Tuesday, hitting $3.62. 143,507 shares of the company were exchanged, compared to its average volume of 128,586. The business has a fifty day moving average of $7.29 and a 200 day moving average of $12.42. Cibus has a 1-year low of $3.55 and a 1-year high of $23.18. The company has a market capitalization of $77.99 million, a PE ratio of -0.20 and a beta of 1.84.

Cibus (NASDAQ:CBUS) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.14) earnings per share (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 for the quarter, compared to analyst estimates of $0.44 million. During the same quarter in the prior year, the company earned ($3.05) earnings per share. Research analysts expect that Cibus will post -3.84 earnings per share for the current year.

Hedge Funds Weigh In On Cibus

Several large investors have recently made changes to their positions in the company. FineMark National Bank & Trust raised its holdings in Cibus by 24.3% during the 2nd quarter. FineMark National Bank & Trust now owns 20,488 shares of the company’s stock worth $202,000 after purchasing an additional 4,000 shares during the last quarter. Squarepoint Ops LLC bought a new position in Cibus in the second quarter valued at approximately $214,000. Rhumbline Advisers acquired a new stake in Cibus during the 2nd quarter worth $221,000. Old West Investment Management LLC raised its position in shares of Cibus by 3.6% during 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 acquired a new position in shares of Cibus in the 2nd quarter valued at $529,000. Institutional investors and hedge funds own 33.81% of the company’s stock.

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.