Canaccord Genuity Group Cuts Cibus (NASDAQ:CBUS) Price Target to $17.50

Cibus (NASDAQ:CBUS) had its price objective cut by Canaccord Genuity Group from $18.00 to $17.50 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cibus in a research report on Friday, March 21st.

Cibus Price Performance

NASDAQ CBUS opened at $2.43 on Monday. The company’s 50 day simple moving average is $1.98 and its 200 day simple moving average is $2.81. Cibus has a 12 month low of $1.40 and a 12 month high of $19.56. The company has a market capitalization of $79.83 million, a P/E ratio of -0.11 and a beta of 1.70.

Cibus (NASDAQ:CBUS) last released its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%. On average, analysts anticipate that Cibus will post -2.96 earnings per share for the current year.

Institutional Trading of Cibus

Large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in Cibus in the fourth quarter worth approximately $36,000. Renaissance Technologies LLC grew its position in Cibus by 933.3% in the fourth quarter. Renaissance Technologies LLC now owns 127,100 shares of the company’s stock worth $353,000 after acquiring an additional 114,800 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Cibus during the 4th quarter worth $49,000. Raymond James Financial Inc. bought a new stake in shares of Cibus during the 4th quarter worth $89,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Cibus during the 4th quarter worth $62,000. 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.