Wall Street Zen Downgrades Cibus (NASDAQ:CBUS) to Sell

Key Points

• Wall Street Zen downgraded Cibus to “Sell” from “Hold,” while Weiss Ratings also lowered its rating. Despite this, the broader analyst consensus remains “Hold,” with an average price target of $9.00.
• Cibus shares opened at $1.61, down 1.2%, and remain well below their 52-week high of $4.19. The company reported a quarterly loss of $0.29 per share and revenue of $0.99 million, missing analyst expectations on both measures.
• The agricultural biotechnology company develops gene-edited crop traits, and institutional investors own 33.81% of its stock. Cibus reported steep negative profitability metrics and analysts expect a full-year loss of $1.13 per share.

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

Separately, Weiss Ratings downgraded shares of Cibus from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 29th. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $9.00.

Cibus Stock Down 1.2%

Shares of CBUS stock opened at $1.61 on Friday. The firm has a 50 day moving average of $1.76 and a 200-day moving average of $1.81. The company has a market cap of $123.05 million, a price-to-earnings ratio of -0.98 and a beta of 1.59. Cibus has a 52 week low of $1.09 and a 52 week high of $4.19.

Cibus (NASDAQ:CBUS - Get Free Report) last released 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). The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.70 million. Cibus had a negative net margin of 2,258.89% and a negative return on equity of 287.03%. Analysts anticipate that Cibus will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Cibus

A number of hedge funds have recently added to or reduced their stakes in CBUS. Weiss Asset Management LP acquired a new position in shares of Cibus during the first quarter worth approximately $1,758,000. BDT Capital Partners LLC grew its position in Cibus by 1,899.7% in the 4th quarter. BDT Capital Partners LLC now owns 63,410 shares of the company's stock valued at $110,000 after purchasing an additional 60,239 shares during the period. Bank of America Corp DE grew its position in Cibus by 324.2% in the 1st quarter. Bank of America Corp DE now owns 74,358 shares of the company's stock valued at $147,000 after purchasing an additional 56,830 shares during the period. Rockland Trust Co. bought a new stake in Cibus during the 2nd quarter valued at $41,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Cibus during the 1st quarter valued at $66,000. Institutional investors and hedge funds own 33.81% of the company's stock.

About Cibus

Cibus, Inc is an agricultural biotechnology company that develops gene-edited traits for crops. Its technology is designed to make targeted changes to plant genetics without introducing foreign DNA, with the goal of improving crop performance, productivity and sustainability.

The company's proprietary Rapid Trait Development System (RTDS) platform is used to develop traits for the global seed industry. Cibus has focused on crops including canola, soybean and rice, pursuing applications such as improved disease resistance, herbicide tolerance, reduced pod shatter and other traits intended to support farmers and seed companies.

Founded in 2001, Cibus became a publicly traded company following its 2023 merger with Calyxt, Inc The company is headquartered in San Diego, California, and works with agricultural and seed-industry partners to advance and commercialize gene-edited crop traits.

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