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

Cibus (NASDAQ:CBUS) had its price target decreased by Alliance Global Partners from $25.00 to $23.50 in a research report released on Tuesday, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. 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 shares of Cibus to a strong-buy rating in a research note on Friday, July 19th.

Cibus Stock Down 1.8 %

Cibus stock opened at $3.35 on Tuesday. Cibus has a 12-month low of $3.33 and a 12-month high of $23.18. The company has a market capitalization of $72.18 million, a PE ratio of -0.18 and a beta of 1.84. The firm’s fifty day moving average is $6.90 and its 200 day moving average is $12.19.

Cibus (NASDAQ:CBUS) last issued its 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). The firm had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.44 million. Cibus had a negative net margin of 9,856.84% and a negative return on equity of 29.05%. During the same quarter in the previous year, the firm earned ($3.05) earnings per share. Sell-side analysts expect that Cibus will post -3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Cibus by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock worth $16,215,000 after buying an additional 26,017 shares during the period. Bank of New York Mellon Corp purchased a new position in Cibus during the second quarter worth approximately $529,000. Rhumbline Advisers acquired a new stake in Cibus in the 2nd quarter valued at $221,000. FineMark National Bank & Trust lifted its position in shares of Cibus by 24.3% in the second quarter. FineMark National Bank & Trust now owns 20,488 shares of the company’s stock valued at $202,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Old West Investment Management LLC boosted its stake in Cibus by 3.6% during the 2nd quarter. Old West Investment Management LLC now owns 53,247 shares of the company’s stock worth $524,000 after purchasing an additional 1,868 shares during the last quarter. 33.81% of the stock is currently owned by hedge funds and other 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.