SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold 1,150 shares of the company's Class A common stock. The agricultural technology company, currently valued at $85 million, has seen its stock decline 84% over the past year, though InvestingPro analysis indicates the stock is trading below its Fair Value. The transaction, which took place on January 7, 2025, was executed at a price of $3.06 per share, amounting to a total sale of $3,519.
Following this transaction, Prante holds 47,957 shares of Cibus stock. The sale was conducted automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024.
In other recent news, Cibus Inc., a pioneer in agricultural gene editing, has reported significant strides in its operations despite a net loss of $201.5 million, primarily due to an impairment of goodwill. The company has successfully developed its Trait Machine process and formed partnerships with major seed companies. 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.
In addition to these developments, Cibus has approved a new base salary of $320,000 for executive Carlo Broos, as disclosed in a recent filing with the Securities and Exchange Commission. The company has also been experiencing significant revenue growth of over 440% in the last twelve months, despite operating at a loss.
Furthermore, 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. This comes as Cibus continues to carefully manage its balance sheet, focusing on maintaining the quality of its royalty economics.
Lastly, Cibus is planning to launch herbicide-resistant and Pod Shatter Reduction traits, targeting significant market opportunities in the U.S., Latin America, and Asia. The company is also exploring sustainable ingredients and fragrances, with announcements expected by next year. These recent developments underline Cibus's ongoing efforts to enhance agricultural productivity and sustainability through gene editing.
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