Cibus (NASDAQ:CBUS) Trading 1.3% Higher - What's Next?

Key Points

• Cibus shares rose 1.3% to $1.61, though trading volume was 41% below the average session volume. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating; the overall consensus is Hold with a $9.00 price target.
• Cibus reported a quarterly loss of $0.29 per share, missing estimates by $0.10, while revenue of $0.99 million also fell short of the $1.70 million consensus forecast.

Cibus, Inc. (NASDAQ:CBUS - Get Free Report)'s stock price shot up 1.3% on Tuesday . The company traded as high as $1.6417 and last traded at $1.61. 70,891 shares were traded during mid-day trading, a decline of 41% from the average session volume of 121,012 shares. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CBUS. Wall Street Zen raised Cibus from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings downgraded Cibus from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cibus currently has an average rating of "Hold" and a consensus target price of $9.00.

Cibus Trading Up 1.3%

The stock has a market capitalization of $123.05 million, a P/E ratio of -0.98 and a beta of 1.59. The stock's 50 day simple moving average is $1.76 and its 200 day simple moving average is $1.90.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Rockland Trust Co. bought a new stake in shares of 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 during the last quarter. Weiss Asset Management LP acquired a new position in Cibus in the first quarter worth $1,758,000. OMERS ADMINISTRATION Corp acquired a new position in Cibus in the first quarter worth $66,000. Finally, Renaissance Technologies LLC increased its stake in Cibus by 42.5% during the first quarter. Renaissance Technologies LLC now owns 98,900 shares of the company's stock valued at $196,000 after purchasing an additional 29,500 shares during the last quarter. Institutional investors and hedge funds own 33.81% of the company's stock.

Cibus Company Profile

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.

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