Cibus (NASDAQ:CBUS) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Cibus (NASDAQ:CBUS) announced its quarterly earnings results on Thursday. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.12, FiscalAI reports. The business had revenue of $0.62 million for the quarter, compared to analyst estimates of $1.39 million. Cibus had a negative return on equity of 83.67% and a negative net margin of 5,681.55%.

Cibus Stock Down 7.4%

NASDAQ:CBUS traded down $0.10 on Thursday, reaching $1.25. 188,905 shares of the company’s stock were exchanged, compared to its average volume of 306,050. The firm has a market capitalization of $67.80 million, a price-to-earnings ratio of -0.12 and a beta of 1.62. Cibus has a 52-week low of $1.20 and a 52-week high of $5.15. The business has a fifty day moving average of $1.43 and a 200-day moving average of $1.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cibus in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cibus currently has an average rating of “Hold” and an average target price of $21.25.

Hedge Funds Weigh In On Cibus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new stake in shares of Cibus during the second quarter worth $39,000. AQR Capital Management LLC purchased a new stake in Cibus during the 1st quarter worth about $73,000. Raymond James Financial Inc. increased its holdings in Cibus by 31.0% during the 2nd quarter. Raymond James Financial Inc. now owns 53,713 shares of the company’s stock worth $74,000 after purchasing an additional 12,722 shares during the period. Bank of America Corp DE lifted its stake in Cibus by 113.4% in the fourth quarter. Bank of America Corp DE now owns 35,536 shares of the company’s stock worth $99,000 after acquiring an additional 18,885 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Cibus during the 2nd quarter worth $207,000. Hedge funds and other institutional investors own 33.81% of the company’s stock.

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.