Canaccord Genuity Group Lowers Cibus (NASDAQ:CBUS) Price Target to $18.00

Cibus (NASDAQ:CBUS) had its price target reduced by investment analysts at Canaccord Genuity Group from $20.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other brokerages have also commented on CBUS. Alliance Global Partners decreased their target price on Cibus from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Tuesday, September 24th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cibus in a research report on Monday, November 11th.

Cibus Price Performance

Shares of NASDAQ:CBUS opened at $2.63 on Wednesday. The company has a market capitalization of $69.59 million, a price-to-earnings ratio of -0.12 and a beta of 1.85. The business’s 50-day moving average is $3.45 and its 200-day moving average is $5.13. Cibus has a 1 year low of $2.16 and a 1 year high of $23.18.

Cibus (NASDAQ:CBUS) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.95. The company had revenue of $1.67 million for the quarter, compared to the consensus estimate of $0.47 million. Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%. During the same period in the previous year, the business earned ($1.59) EPS. Analysts anticipate that Cibus will post -2.96 EPS for the current year.

Institutional Trading of Cibus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBUS. SG Americas Securities LLC bought a new stake in Cibus during the 3rd quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. bought a new stake in Cibus during the 3rd quarter worth approximately $44,000. Virtu Financial LLC bought a new stake in Cibus during the 3rd quarter worth approximately $48,000. HighTower Advisors LLC increased its holdings in Cibus by 20.6% during the 3rd quarter. HighTower Advisors LLC now owns 16,125 shares of the company’s stock worth $52,000 after purchasing an additional 2,750 shares in the last quarter. Finally, Barclays PLC increased its holdings in Cibus by 287.2% during the 3rd quarter. Barclays PLC now owns 20,269 shares of the company’s stock worth $66,000 after purchasing an additional 15,034 shares in the last quarter. 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.