SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS) Director Gerhard Prante recently sold 1,150 shares of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $2.59 each, totaling approximately $2,978. The transaction comes as the stock trades near $2.42, down 84% over the past year. According to InvestingPro data, analysts have set price targets ranging from $4 to $25 for the company, which currently has a market capitalization of $89 million.
Following this transaction, Prante now holds 34,157 shares directly. The sale was executed automatically as part of a Rule 10b5-1 trading plan that Prante had adopted on August 16, 2024. This plan allows insiders to set up a predetermined schedule for selling stocks, providing a degree of insulation from potential accusations of insider trading. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional ProTips available to subscribers ahead of the company's next earnings report on February 28, 2025.
In other recent news, Cibus Inc. has seen significant developments. Canaccord Genuity analysts revised their price target for Cibus, reducing it from $20.00 to $18.00, while maintaining a Buy rating. In a parallel move, Jefferies also adjusted its price target for Cibus, lowering it to $5.00 from $8.00, but retained its Hold rating.
Cibus has announced plans to raise approximately $22.6 million through a direct stock offering of about 9 million shares. The raised capital is expected to fund the advancement of Cibus's gene-edited plant productivity traits and further development of its soybean platform. The company also disclosed a new base salary of $320,000 for executive Carlo Broos, signaling a change in the compensation arrangement.
Despite reporting a net loss of $201.5 million, Cibus anticipates earning $200 million annually in royalties from rice traits in the U.S. and an additional $150 million from expansion into Asian markets. These are recent developments that aim to enhance the company's growth and sustainability through gene editing in the agricultural sector.
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