Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), sold 1,150 shares of the company's Class A common stock on December 13, 2024. The shares were sold at a price of $3.87 each, amounting to a total transaction value of $4,450. The transaction comes as CBUS shares have declined over 73% in the past year, with the stock currently trading near $3.89, significantly below its 52-week high of $23.18. Following this sale, Prante holds 56,007 shares in the company. The transaction was executed under a pre-arranged trading plan established on August 16, 2024, in accordance with Rule 10b5-1. According to InvestingPro analysis, Cibus, with a market capitalization of $120.64M, is currently showing signs of undervaluation despite facing cash burn challenges. Subscribers to InvestingPro can access 8 additional key insights and a comprehensive Pro Research Report for deeper analysis of CBUS's financial health and market position.
In other recent news, agriculture chemicals company Cibus Inc. has reported significant developments. The company has approved a new base salary of $320,000 for executive Carlo Broos, marking a change in the compensation arrangement. Despite operating at a loss, Cibus has experienced a substantial revenue growth of over 440% in the last twelve months.
Cibus has also been advancing in the agricultural gene editing sector, transitioning from research and development to commercial operations. 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. In partnership with Albaugh, Cibus aims to aid in herbicide labeling in Latin America.
However, 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 adjustment comes as Cibus continues to carefully manage its balance sheet. These are the recent developments on Cibus Inc.
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