Cibus (NASDAQ:CBUS) Upgraded by Canaccord Genuity Group to “Strong-Buy”

Canaccord Genuity Group upgraded shares of Cibus (NASDAQ:CBUS) to a strong-buy rating in a report issued on Friday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on CBUS. HC Wainwright reissued a buy rating and set a $25.00 price target on shares of Cibus in a research report on Friday, May 10th. Canaccord Genuity Group reiterated a buy rating and set a $22.00 target price on shares of Cibus in a report on Friday.

Cibus Trading Down 2.0 %

Shares of NASDAQ:CBUS opened at $9.40 on Friday. The stock has a market capitalization of $202.57 million, a P/E ratio of -0.51 and a beta of 1.91. The stock’s 50-day moving average price is $11.74 and its 200-day moving average price is $15.89. Cibus has a 12-month low of $7.41 and a 12-month high of $23.18.

Cibus (NASDAQ:CBUS) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). The company had revenue of $0.55 million during the quarter, compared to analysts’ expectations of $0.40 million. Cibus had a negative return on equity of 23.33% and a negative net margin of 12,313.28%. During the same period last year, the firm earned ($5.45) earnings per share. As a group, research analysts predict that Cibus will post -3.22 EPS for the current year.

Hedge Funds Weigh In On Cibus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Cibus by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 721,945 shares of the company’s stock valued at $16,215,000 after purchasing an additional 26,017 shares during the period. Blue Trust Inc. purchased a new stake in shares of Cibus in the 4th quarter worth about $301,000. Cerity Partners LLC bought a new stake in shares of Cibus during the 4th quarter valued at about $323,000. Citigroup Inc. purchased a new position in shares of Cibus during the third quarter valued at about $199,000. Finally, Indie Asset Partners LLC raised its stake in Cibus by 30.1% in the fourth quarter. Indie Asset Partners LLC now owns 16,929 shares of the company’s stock worth $332,000 after buying an additional 3,921 shares in the last quarter. 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.