Cibus (CBUS) Moves 6.7% Higher: Will This Strength Last?
Cibus CBUS shares ended the last trading session 6.7% higher at $20.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.9% gain over the past four weeks.
Cibus’ focus on its strategic initiatives including smooth progress on the commercialization of pod shatter reduction trait in canola and winter oilseed rape bodes well. The company has also been making progress in developing a soybean single cell operating system. It has also been making positive developments in gene editing regulations.
This genetically modified food company is expected to post quarterly loss of $1.21 per share in its upcoming report, which represents a year-over-year change of +59.7%. Revenues are expected to be $0.27 million, up 575% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Cibus, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CBUS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cibus is part of the Zacks Agriculture - Operations industry. Corteva, Inc. CTVA, another stock in the same industry, closed the last trading session 0.2% lower at $55.09. CTVA has returned 1% in the past month.
Corteva, Inc.'s consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $0.96. Compared to the company's year-ago EPS, this represents a change of -17.2%. Corteva, Inc. currently boasts a Zacks Rank of #3.
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Cibus, Inc. (CBUS) : Free Stock Analysis Report
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