Cibus (NASDAQ:CBUS) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Cibus from “Hold” to “Sell,” while Weiss Ratings reaffirmed its “sell (e+)” rating. Despite this, analysts’ consensus remains “Hold,” with a $9.00 price target.
• Cibus shares opened at $1.32, compared with a 52-week range of $1.09 to $4.19. The company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.29 per share and revenue of $0.99 million versus the $1.70 million estimate.
• Institutional investors own approximately 33.81% of Cibus, with several firms recently initiating positions and Bank of America increasing its stake by 324.2%.

Cibus (NASDAQ:CBUS - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Cibus in a research report on Friday, September 25th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cibus currently has a consensus rating of "Hold" and a consensus price target of $9.00.

Cibus Trading Up 2.3%

CBUS stock opened at $1.32 on Friday. Cibus has a fifty-two week low of $1.09 and a fifty-two week high of $4.19. The business's fifty day moving average price is $1.61 and its two-hundred day moving average price is $1.58.

Cibus (NASDAQ:CBUS - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.10). Cibus had a negative net margin of 2,258.89% and a negative return on equity of 287.03%. The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.70 million. Equities analysts predict that Cibus will post -1.13 EPS for the current fiscal year.

Institutional Trading of Cibus

A number of institutional investors have recently modified their holdings of CBUS. Dimensional Fund Advisors LP acquired a new stake in shares of Cibus during the 1st quarter worth $33,000. Nautilus Advisors LLC bought a new stake in Cibus during the third quarter worth about $35,000. Rockland Trust Co. acquired a new stake in Cibus during the second quarter worth about $41,000. OMERS ADMINISTRATION Corp acquired a new stake in Cibus during the first quarter worth about $66,000. Finally, Bank of America Corp DE grew 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 buying an additional 56,830 shares in the last quarter. 33.81% of the stock is currently owned by institutional investors.

About Cibus

Cibus, Inc is an agricultural biotechnology company focused on developing and commercializing gene-edited traits for major crops. Its technology is designed to make precise changes to a plant's existing genes without introducing foreign DNA, supporting the development of improved crop varieties through a process intended to resemble conventional breeding.

The company's product development programs target traits such as herbicide tolerance, disease resistance, improved yield, and other characteristics intended to benefit farmers, seed companies, and the broader food and agriculture supply chain.

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