Cibus (NASDAQ:CBUS) Trading 5.7% Higher – Here’s Why

Shares of Cibus, Inc. (NASDAQ:CBUS) shot up 5.7% on Tuesday . The stock traded as high as $1.90 and last traded at $1.86. 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group upped their price objective on Cibus from $1.90 to $3.00 and gave the stock a “hold” rating in a research report on Wednesday, March 25th. Weiss Ratings lowered shares of Cibus from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Cibus Price Performance

The firm has a market cap of $141.97 million, a PE ratio of -0.94 and a beta of 1.65. The business’s 50 day moving average price is $1.48 and its 200 day moving average price is $1.97.

Cibus (NASDAQ:CBUS) last issued 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). Cibus had a negative net margin of 2,366.33% and a negative return on equity of 200.87%. The company had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $1.61 million. As a group, analysts predict that Cibus, Inc. will post -1.18 earnings per share for the current year.

Hedge Funds Weigh In On Cibus

Several hedge funds and other institutional investors have recently made changes to their positions in CBUS. Weiss Asset Management LP acquired a new stake in shares of Cibus in the first quarter worth approximately $1,758,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Cibus during the fourth quarter worth approximately $345,000. Jane Street Group LLC acquired a new position in Cibus in the 2nd quarter valued at $207,000. Certior Financial Group LLC raised its stake in Cibus by 46.7% in the 4th quarter. Certior Financial Group LLC now owns 271,164 shares of the company’s stock valued at $472,000 after purchasing an additional 86,378 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in Cibus in the 4th quarter valued at $145,000. Hedge funds and other institutional investors 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.