SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS), a small-cap biotech company currently valued at $72 million, has seen its stock decline 86% over the past year. According to a recent SEC filing, director Gerhard Prante sold shares of the company’s Class A common stock. InvestingPro analysis suggests that the stock is trading below its fair value despite recent volatility. On January 14, Prante sold 1,150 shares at a price of $2.42 per share, for a total of approximately $2,783. Following this transaction, Prante directly holds 42,207 shares.
The sale was made under a predetermined Rule 10b5-1 trading plan, which was adopted on August 16, 2024. This type of plan allows insiders to set a predetermined schedule for buying or selling shares to avoid any potential conflicts of interest or insider trading charges. .
In other recent news, Cibus Inc., a leader in agricultural gene editing, is making significant strides despite a net loss of $201.5 million. The company reported significant revenue growth of over 440% over the past twelve months, and the Remuneration Committee of Cibus’ Board of Directors approved a new base salary of $320,000 for CEO Carl Broos. Jefferies, an investment firm, adjusted their target price on Cibus to $5.00, while maintaining a Hold rating on the stock.
Cibus anticipates earning $200 million a year from royalties on rice properties in the US and an additional $150 million from expansion into Asian markets. The company also plans to launch herbicide resistant and pod cracking reduction traits, targeting significant market opportunities in the US, Latin America and Asia.
Cibus’ path to free cash flow depends on successfully developing soybean or wheat traits or being able to market its product across 2 to 5 million hectares. In partnership with Albaugh, Cibus aims to help label herbicides in Latin America. The company is also researching sustainable ingredients and fragrances, with announcements expected in the future. These recent developments reflect Cibus’ ongoing efforts to improve agricultural productivity and sustainability through gene editing.
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