Cibus price target lowered to $18 from $20 at Canaccord

Canaccord analyst Austin Moeller lowered the firm’s price target on Cibus (CBUS) to $18 from $20 and keeps a Buy rating on the shares. The firm noted the company announced that it would raise $22.6M via a direct offering of roughly 9M shares of the company’s common stock. Following the announcement of the equity raise, they have adjusted their model to reflect the dilution effect of the revised share count.