Cibus (NASDAQ:CBUS) Trading Up 5.7% – Still a Buy?

Cibus, Inc. (NASDAQ:CBUS)’s share price rose 5.7% during mid-day trading on Tuesday . The company traded as high as $1.90 and last traded at $1.86. Approximately 213,193 shares were traded during trading, a decline of 56% from the average session volume of 484,861 shares. The stock had previously closed at $1.76.

Analyst Ratings Changes

Several research firms have recently weighed in on CBUS. Jefferies Financial Group raised their price target on shares of Cibus from $1.90 to $3.00 and gave the stock a “hold” rating in a research note on Wednesday, March 25th. Weiss Ratings cut shares of Cibus from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cibus currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Cibus Stock Up 5.7%

The company has a market cap of $141.97 million, a price-to-earnings ratio of -0.94 and a beta of 1.65. The stock’s 50-day simple moving average is $1.48 and its 200 day simple moving average is $1.97.

Cibus (NASDAQ:CBUS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.06). The company had revenue of $1.68 million for the quarter, compared to analyst estimates of $1.61 million. Cibus had a negative net margin of 2,366.33% and a negative return on equity of 200.87%. On average, sell-side analysts expect that Cibus, Inc. will post -1.18 EPS for the current fiscal year.

Institutional Trading of Cibus

Institutional investors have recently added to or reduced their stakes in the stock. Rockland Trust Co. acquired a new stake in Cibus in the 2nd quarter valued at approximately $41,000. Bank of America Corp DE lifted its stake in Cibus by 324.2% during the first quarter. Bank of America Corp DE now owns 74,358 shares of the company’s stock worth $147,000 after purchasing an additional 56,830 shares in the last quarter. Weiss Asset Management LP purchased a new position in shares of Cibus during the first quarter worth $1,758,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Cibus during the first quarter worth $66,000. Finally, Renaissance Technologies LLC grew its stake in shares of Cibus by 42.5% in the first quarter. Renaissance Technologies LLC now owns 98,900 shares of the company’s stock valued at $196,000 after buying an additional 29,500 shares in the last quarter. Institutional investors and hedge funds own 33.81% of the company’s stock.

About Cibus

Cibus, Inc is a biotechnology company specializing in precision gene editing for agricultural applications. Leveraging its proprietary Rapid Trait Development System (RTDS), Cibus develops improved crop traits without the introduction of foreign DNA. The company’s platform enables targeted modifications to plant genomes, allowing for enhanced disease resistance, herbicide tolerance and yield optimization in key row crops.

The company’s core business centers on trait development services and licensing partnerships.