Cibus (NASDAQ:CBUS) Announces Earnings Results, Misses Estimates By $0.19 EPS

Cibus (NASDAQ:CBUS) released its earnings results on Thursday. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.19), Zacks reports. Cibus had a negative net margin of 10,724.78% and a negative return on equity of 28.17%.

Cibus Stock Down 7.6 %

CBUS traded down $0.18 during trading on Thursday, reaching $2.19. 146,441 shares of the company’s stock were exchanged, compared to its average volume of 164,893. The company has a market capitalization of $57.94 million, a P/E ratio of -0.10 and a beta of 2.04. The business has a 50 day moving average price of $2.35 and a 200 day moving average price of $3.39. Cibus has a fifty-two week low of $1.80 and a fifty-two week high of $23.18.

Hedge Funds Weigh In On Cibus

A hedge fund recently raised its stake in Cibus stock. Bank of America Corp DE increased its holdings in Cibus, Inc. (NASDAQ:CBUS) by 113.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,536 shares of the company’s stock after purchasing an additional 18,885 shares during the period. Bank of America Corp DE owned approximately 0.13% of Cibus worth $99,000 at the end of the most recent quarter. 33.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their target price on shares of Cibus from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd.

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.