Cibus director Gerhard Prante sells $5,911 in stock

Published 01/13/2025, 03:49 PM
CBUS
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SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold shares of the company's Class A common stock, according to an SEC filing. The transactions, which took place on January 10, 2025, involved the sale of 2,300 shares at a price of $2.57 per share, totaling $5,911. The sale comes as the stock trades near its 52-week low of $2.31, with the company's market capitalization standing at approximately $71 million. According to InvestingPro analysis, CBUS currently trades below its Fair Value.

Following these transactions, Prante holds 44,507 shares directly. The sales were executed automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. The stock has faced significant headwinds, declining 87% over the past year. For deeper insights into CBUS's valuation and comprehensive analysis, including 15+ additional ProTips, check out the detailed Pro Research Report available on InvestingPro.

In other recent news, Cibus Inc. has reported significant financial developments and strategic progress. The company has approved a new base salary of $320,000 for executive Carlo Broos, a decision highlighted in a recent Securities and Exchange Commission filing. Despite operating at a loss, Cibus has seen a notable revenue growth of over 440% in the past year.

Cibus has also reported a net loss of $201.5 million, largely due to an impairment of goodwill. However, the company anticipates earning $200 million annually in royalties from rice traits in the U.S., and an additional $150 million from expansion into Asian markets. Furthermore, Cibus plans to launch herbicide-resistant and Pod Shatter Reduction traits, targeting significant market opportunities in the U.S., Latin America, and Asia.

In terms of analyst notes, Jefferies has adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining a Hold rating on the stock. These recent developments reflect Cibus's ongoing efforts to enhance agricultural productivity and sustainability through gene editing.

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