Cibus (NASDAQ:CBUS) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Cibus (NASDAQ:CBUS) announced its earnings results on Thursday. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19), Zacks reports. The firm had revenue of $1.21 million for the quarter, compared to analyst estimates of $1.13 million. Cibus had a negative return on equity of 28.17% and a negative net margin of 10,724.78%.

Cibus Trading Down 6.4 %

Shares of CBUS stock opened at $2.05 on Friday. Cibus has a 1 year low of $1.80 and a 1 year high of $23.18. The firm’s 50 day moving average is $2.33 and its 200-day moving average is $3.35. The firm has a market capitalization of $54.23 million, a price-to-earnings ratio of -0.09 and a beta of 2.04.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

CBUS has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on shares of Cibus from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Cibus in a report on Friday.

Cibus Company Profile

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.