SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold shares of the company's Class A Common Stock, according to a filing with the Securities and Exchange Commission. The company, currently valued at $88 million, has seen its stock decline over 83% in the past year, though InvestingPro analysis indicates the shares may be undervalued at current levels. The transactions, executed on January 3 and January 6, involved the sale of 2,300 shares in total, with prices ranging from $2.89 to $3.14 per share. The total value of the sales amounted to $6,934.
Following these transactions, Prante holds 49,107 shares directly. The sales were conducted under a Rule 10b5-1 trading plan, which Prante adopted on August 16, 2024.
In other recent news, Cibus, Inc. has reported a significant revenue growth of over 440% in the past year, despite operating at a loss. The company recently approved a new base salary of $320,000 for executive Carlo Broos, as disclosed in a Securities and Exchange Commission filing. In other developments, 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. This follows the successful development of its Trait Machine process and partnerships with major seed companies. Despite these advancements, Jefferies recently adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining its Hold rating on the stock. Furthermore, the company's path to reaching free cash flow breakeven is contingent upon the successful development of either a soy or wheat trait, or the ability to get its product across 2 to 5 million acres. These are the recent developments regarding Cibus, Inc.
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