SAN DIEGO—Cibus, Inc. (NASDAQ: ) Director Gerhard Prante recently sold 1,150 shares of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The shares were sold at $2.59 each, for a total of approximately $2,978. The transaction comes as the stock trades near $2.42, down 84% from last year. According to InvestingPro data, analysts have set price targets ranging from $4 to $25 for the company, which currently has a market capitalization of $89 million.
Following this transaction, Prante now directly holds 34,157 shares. The sale was made automatically as part of a Rule 10b5-1 trading plan adopted by Prante on August 16, 2024. This plan allows insiders to set a predetermined schedule for selling shares, providing a degree of insulation from potential insider trading charges. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional ProTips available to subscribers before the company’s next earnings report on February 28, 2025.
In other recent news, Cibus Inc. has experienced significant progress. Analysts at Canaccord Genuity revised their price target on Cibus down from $20.00 to $18.00, while maintaining a Buy rating. In a parallel move, Jefferies also adjusted its target price for Cibus, lowering it to $5.00 from $8.00, but maintained its Hold rating.
Cibus has announced plans to raise approximately $22.6 million through a direct stock offering of approximately 9 million shares. The capital raised is expected to fund the advancement of Cibus’ genetically engineered plant productivity traits and further development of its soybean platform. The company also revealed a new base salary of $320,000 for CEO Carl Broos, signaling a change in the compensation arrangement.
Despite reporting a net loss of $201.5 million, Cibus expects to earn $200 million a year in royalties from rice properties in the US and an additional $150 million from expansion into Asian markets. These are recent developments aimed at improving the company’s growth and sustainability through gene editing in the agricultural sector.
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