Armistice Capital LLC Buys New Shares in Cibus, Inc. $CBUS

Key Points

• Armistice Capital LLC has made a new investment in Cibus, Inc. by purchasing approximately $3.64 million worth of shares, representing 5.93% ownership in the company.
• Cibus reported a quarterly loss of ($0.61) earnings per share, outperforming analysts' expectations but falling short on revenue projections.
• The stock has faced a decline of 1.5% recently, with a current market capitalization of $72.68 million and a consensus target price of $22.00 according to analysts.

Armistice Capital LLC bought a new position in Cibus, Inc. (NASDAQ:CBUS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,948,000 shares of the company's stock, valued at approximately $3,643,000. Armistice Capital LLC owned about 5.93% of Cibus at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blair William & Co. IL bought a new position in Cibus in the 1st quarter worth about $28,000. Jane Street Group LLC bought a new position in Cibus in the 4th quarter worth about $67,000. Two Sigma Investments LP bought a new position in Cibus in the 4th quarter worth about $68,000. Nuveen LLC bought a new position in Cibus in the 1st quarter worth about $71,000. Finally, Barclays PLC grew its position in Cibus by 35.1% in the 4th quarter. Barclays PLC now owns 27,375 shares of the company's stock worth $76,000 after purchasing an additional 7,106 shares during the last quarter. Institutional investors own 33.81% of the company's stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reduced their price target on shares of Cibus from $18.00 to $17.50 and set a "buy" rating for the company in a research note on Monday, May 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $22.00.

Cibus Stock Performance

Shares of NASDAQ:CBUS traded up $0.02 during trading on Friday, reaching $1.28. The company had a trading volume of 81,303 shares, compared to its average volume of 206,245. The firm's fifty day moving average is $1.48 and its 200 day moving average is $1.86. The firm has a market capitalization of $69.43 million, a PE ratio of -0.12 and a beta of 1.68. Cibus, Inc. has a twelve month low of $1.20 and a twelve month high of $6.10.

Cibus (NASDAQ:CBUS - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.61) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.08. Cibus had a negative net margin of 5,681.55% and a negative return on equity of 83.67%. The company had revenue of $0.93 million during the quarter, compared to analyst estimates of $1.15 million. Equities analysts predict that Cibus, Inc. will post -2.96 earnings per share for the current fiscal year.

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.