Cibus’ (CBUS) “Buy” Rating Reiterated at Canaccord Genuity Group

Cibus (NASDAQ:CBUS)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday, Benzinga reports. They presently have a $20.00 target price on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 457.10% from the stock’s current price.

A number of other research firms have also recently commented on CBUS. Canaccord Genuity Group upgraded Cibus to a “strong-buy” rating in a research note on Friday, July 19th. Alliance Global Partners dropped their target price on shares of Cibus from $25.00 to $23.50 and set a “buy” rating on the stock in a report on Tuesday, September 24th.

Cibus Trading Up 0.6 %

Shares of Cibus stock opened at $3.59 on Tuesday. Cibus has a 12-month low of $2.86 and a 12-month high of $23.18. The company has a market cap of $77.35 million, a P/E ratio of -0.20 and a beta of 1.81. The company’s fifty day simple moving average is $4.82 and its two-hundred day simple moving average is $9.88.

Cibus (NASDAQ:CBUS) last announced its quarterly earnings results 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 net margin of 9,856.84% and a negative return on equity of 29.05%. The company had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.44 million. During the same quarter in the prior year, the firm earned ($3.05) EPS. Analysts predict that Cibus will post -3.84 EPS for the current fiscal year.

Institutional Trading of Cibus

A number of hedge funds have recently made changes to their positions in CBUS. Armistice Capital LLC bought a new position in Cibus during the 2nd quarter valued at approximately $5,083,000. Vanguard Group Inc. increased its holdings in shares of Cibus by 3.7% during the first quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock valued at $16,215,000 after acquiring an additional 26,017 shares in the last quarter. Rhumbline Advisers bought a new position in Cibus in the 2nd quarter worth about $221,000. FineMark National Bank & Trust increased its stake in 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, Bank of New York Mellon Corp purchased a new stake in shares of Cibus during the second quarter valued at approximately $529,000. 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.