SAN DIEGO—In recent transactions reported to the Securities and Exchange Commission, Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), sold a total of 2,300 shares of the company's Class A Common Stock. These sales, which occurred on January 21 and January 22, were executed under a pre-established trading plan. The micro-cap biotechnology company, currently valued at $88 million, has seen its shares decline 85% over the past year, according to InvestingPro data.
The shares were sold at prices ranging from $2.31 to $2.50, amounting to a total transaction value of $5,531. Following these sales, Prante holds 35,307 shares directly. While the stock currently trades at $2.63, analyst price targets range from $4 to $25, suggesting potential upside. InvestingPro analysis indicates the stock is trading below its Fair Value, with 12 additional ProTips available for subscribers.
The transactions were conducted automatically as part of a Rule 10b5-1 trading plan, which was adopted by Prante on August 16, 2024. The company is scheduled to report its next earnings on February 28, 2025.
In other recent news, Cibus, a biotechnology company specializing in gene editing for agriculture, has been the focus of recent analyst revisions. Canaccord Genuity (TSX:CF) analysts adjusted their outlook on Cibus, lowering the stock's price target from $20.00 to $18.00, while still recommending a Buy rating. Similarly, Jefferies reduced its price target for Cibus to $5.00 from the previous $8.00, while maintaining its Hold rating on the stock.
These adjustments follow Cibus's recent announcement of a direct stock offering aimed at funding its ongoing projects. The company plans to generate approximately $22.6 million through a direct offering of about 9 million shares of its common stock. This funding is crucial for the advancement of Cibus's gene-edited plant productivity traits and the further development of its soybean platform.
In recent developments, Cibus disclosed the approval of a new base salary of $320,000 for executive Carlo Broos. This comes as the company records significant revenue growth of over 440% in the last twelve months, despite operating at a loss. Additionally, Cibus reported a net loss of $201.5 million, primarily due to an impairment of goodwill. However, 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.
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