Cibus (NASDAQ:CBUS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Cibus (NASDAQ:CBUS) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings downgraded Cibus from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.00.

Cibus Stock Performance

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

Cibus (NASDAQ:CBUS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.10). The business 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%. Equities research analysts forecast that Cibus will post -1.13 EPS for the current year.

Hedge Funds Weigh In On Cibus

Several institutional investors and hedge funds have recently bought and sold shares of CBUS. Rockland Trust Co. acquired a new stake in shares of Cibus in the 2nd quarter worth $41,000. Bank of America Corp DE increased its position in Cibus by 324.2% during the 1st quarter. Bank of America Corp DE now owns 74,358 shares of the company’s stock valued at $147,000 after buying an additional 56,830 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Cibus in the first quarter valued at about $1,758,000. OMERS ADMINISTRATION Corp purchased a new stake in Cibus in the first quarter valued at about $66,000. Finally, Renaissance Technologies LLC boosted its holdings in Cibus by 42.5% in the first quarter. Renaissance Technologies LLC now owns 98,900 shares of the company’s stock worth $196,000 after acquiring an additional 29,500 shares in the last quarter. 33.81% of the stock is owned by hedge funds and other institutional investors.

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.