SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS) director Gerhard Prante recently sold shares of the company's Class A common stock, according to a filing with the Securities and Exchange Commission. On December 6, Prante disposed of 1,150 shares at a price of $3.86 each, bringing the total transaction value to $4,439. Following this transaction, Prante holds 61,757 shares in the company. The sale comes as CBUS shares have declined over 61% in the past six months, with InvestingPro analysis indicating the stock is currently trading below its Fair Value.
The sale was executed as part of a pre-established Rule 10b5-1 trading plan, which Prante adopted on August 16, 2024. This type of plan allows insiders to set up a predetermined schedule for selling shares, helping to avoid concerns about insider trading. According to InvestingPro data, Cibus operates with a moderate debt level and maintains a current ratio of 1.44, though the company is currently experiencing rapid cash burn. Subscribers can access 8 additional ProTips and a comprehensive analysis through the Pro Research Report.
In other recent news, Cibus, a leader in gene editing for agriculture, has been making significant strides in its transition from research and development to commercial operations. Despite a net loss of $201.5 million, largely due to an impairment of goodwill, the company remains positive about its future. The development of its Trait Machine process and partnerships with major seed companies have been highlighted as key progress points.
Jefferies recently adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining a Hold rating on the stock. This decision comes in light of Cibus's careful management of its balance sheet and focus on maintaining the quality of its royalty economics.
Cibus anticipates earning $200 million annually in royalties from rice traits in the U.S. and a further $150 million from expansion into Asian markets. The company is also planning to launch herbicide-resistant and Pod Shatter Reduction traits, targeting significant market opportunities in the U.S., Latin America, and Asia.
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 recent developments underline Cibus's ongoing efforts to enhance agricultural productivity and sustainability through gene editing.
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