SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS) director Gerhard Prante recently sold 1,150 shares of the company's Class A common stock, according to a filing with the Securities and Exchange Commission. The sale comes amid a challenging period for the $83 million market cap company, whose stock has declined over 31% in the past week and 86% year-to-date. The shares were sold at a price of $3.45 each, totaling $3,967. Following this transaction, Prante holds 51,407 shares directly. The sale was executed automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. According to InvestingPro analysis, Cibus currently appears undervalued, though its overall financial health score is rated as WEAK. For comprehensive insider trading patterns and 13 additional ProTips, subscribers can access the full InvestingPro report.
In other recent news, Cibus Inc. has approved a new base salary of $320,000 for executive Carlo Broos, amidst a significant revenue growth of over 440% in the past year, as reported in a recent filing with the Securities and Exchange Commission. This development comes as the company, despite operating at a loss, continues to make strides in the agricultural sector, with its Trait Machine process and partnerships with major seed companies. Cibus is optimistic about its future, forecasting an annual earning of $200 million from rice traits in the U.S. and an additional $150 million from expansion into Asian markets. Jefferies, however, has adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining its 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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