SAN DIEGO—Prante Gerhard, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold 1,150 shares of the company's Class A Common Stock. The shares were sold at a price of $4.57 each, totaling approximately $5,255. Following this transaction, Gerhard holds 69,807 shares. This sale was conducted under a pre-established Rule 10b5-1 trading plan that Gerhard adopted on August 16, 2024.
In other recent news, Cibus, a biotechnology company specializing in gene editing for agriculture, reported a net loss of $201.5 million during its third quarter 2024 earnings conference call. Despite this, the company remains optimistic, citing the successful development of its Trait Machine process and partnerships with major seed companies. The company anticipates earning $200 million annually in royalties from rice traits in the U.S. and a further $150 million from expansion into Asian markets.
Jefferies recently adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, but maintained its Hold rating on the stock. The firm's decision comes as Cibus is noted for carefully managing its balance sheet, focusing on maintaining the quality of its royalty economics. 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.
In partnership with Albaugh, Cibus aims to aid in herbicide labeling in Latin America. The company is also exploring sustainable ingredients and fragrances, with announcements expected by next year. These are among the recent developments that reflect Cibus's ongoing efforts to enhance agricultural productivity and sustainability through gene editing.
InvestingPro Insights
While Prante Gerhard's recent sale of Cibus, Inc. (NASDAQ:CBUS) shares may raise eyebrows, it's crucial to consider the broader financial context of the company. According to InvestingPro data, Cibus has experienced significant revenue growth, with a 449.34% increase in the last twelve months as of Q3 2024. This aligns with one of the InvestingPro Tips, which indicates that analysts anticipate sales growth in the current year.
However, investors should note that Cibus is currently operating at a loss, with an operating income margin of -1621.31% in the same period. This is reflected in another InvestingPro Tip, which states that the company is not expected to be profitable this year. The company's market capitalization stands at $132.76 million, suggesting it's still in a growth phase.
Cibus's stock performance has been volatile, with a strong 14.25% return over the last month, but a significant 71.11% decline over the past six months. This volatility is highlighted in the InvestingPro Tips, which note that the stock's price movements are quite volatile and that it has taken a big hit over the last six months.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Cibus, providing a deeper understanding of the company's financial health and market position.
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