U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
Cibus Global Ltd. (CBUS) stock has tumbled to a 52-week low, with shares dropping to $2.08, significantly below the analyst low target of $4. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics. This latest price level reflects a significant downturn for the company, which has seen its stock value plummet by an alarming 87.93% over the past year. While analysts anticipate sales growth, InvestingPro data reveals the company is quickly burning through cash with an EBITDA of -$60.3M. Investors have been wary as the company grapples with challenges that have eroded market confidence, leading to a steep decline in its share price from previous levels. The 52-week low marks a critical juncture for Cibus Global as it navigates through a tough economic landscape, with shareholders closely monitoring the company’s strategic moves to rebound from this downturn. For deeper insights into CBUS’s potential recovery prospects, InvestingPro subscribers can access 15+ additional ProTips and comprehensive financial analysis in the Pro Research Report.
In other recent news, Cibus has announced plans to raise approximately $22.6 million through a direct offering of about 9 million shares of its common stock. The funds are intended for advancing the company’s gene-edited plant productivity traits and further developing its soybean platform. The offering includes the issuance of warrants, which can be exercised at $2.50 per share, contingent on certain conditions being met. Meanwhile, Canaccord Genuity has adjusted its outlook on Cibus, lowering the stock’s price target from $20.00 to $18.00, while maintaining a Buy rating. This adjustment follows the company’s recent capital-raising efforts. Additionally, Jefferies has lowered its price target for Cibus from $8.00 to $5.00, maintaining a Hold rating. The firm highlights the importance of acreage expansion and potential regulatory approvals in Europe for the company’s future prospects. In other developments, Cibus disclosed a new base salary of $320,000 for executive Carlo Broos, reflecting a change in the company’s executive compensation plan.
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