Cibus (NASDAQ:CBUS – Free Report) had its target price cut by Canaccord Genuity Group from $21.00 to $20.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.
Other research analysts have also recently issued reports about the company. Alliance Global Partners assumed coverage on Cibus in a research report on Monday, July 29th. They set a buy rating and a $25.00 price objective for the company. Canaccord Genuity Group raised Cibus to a strong-buy rating in a research report on Friday, July 19th.
Read Our Latest Report on Cibus
Cibus Trading Up 3.1 %
Cibus (NASDAQ:CBUS – Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $0.44 million. Cibus had a negative return on equity of 29.05% and a negative net margin of 9,856.84%. During the same period in the prior year, the company earned ($3.05) earnings per share. Sell-side analysts forecast that Cibus will post -3.84 earnings per share for the current year.
Institutional Trading of Cibus
Institutional investors and hedge funds have recently bought and sold shares of the stock. FineMark National Bank & Trust raised its holdings in Cibus by 24.3% during the second quarter. FineMark National Bank & Trust now owns 20,488 shares of the company’s stock worth $202,000 after acquiring an additional 4,000 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Cibus during the second quarter worth about $214,000. Rhumbline Advisers bought a new stake in Cibus in the second quarter valued at approximately $221,000. Old West Investment Management LLC raised its stake in Cibus by 3.6% in the second quarter. Old West Investment Management LLC now owns 53,247 shares of the company’s stock valued at $524,000 after buying an additional 1,868 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Cibus in the second quarter valued at approximately $529,000. Institutional investors 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.
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