In a recent transaction disclosed by Cibus, Inc. (NASDAQ: ), a small biotechnology company valued at approximately $69 million, director Prante Gerhard sold 1,150 shares of Class A Common Stock. According to InvestingPro analysis, the stock has experienced significant volatility, burning over 86% in the past year. The shares were sold at $2.50 each, for a total of $2,875. After this sale, Gerhard retains ownership of 37,607 shares. This transaction was executed automatically under the Rule 10b5-1 trading plan adopted by Gerhard on August 16, 2024. InvestingPro subscribers can access extensive insider trading analysis along with 13 additional ProTips that provide deeper insight into Cibus’ financial health and market position.
In other recent news, agricultural gene-editing pioneer Cibus is thriving despite reporting a net loss of $201.5 million, primarily due to goodwill impairment. The company 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. Cibus also disclosed plans to generate approximately $22.6 million through a direct offering of approximately 9 million shares of its common stock, a move critical to the company’s operations.
In terms of executive changes, the company announced the approval of a new base salary of $320,000 for CEO Carl Broos. This comes as the company has seen significant revenue growth of over 440% over the past twelve months, despite operating at a loss.
On the analyst side, analysts at Canaccord Genuity adjusted their outlook for Cibus, lowering their price target on the stock from $20.00 to $18.00, while still recommending a Buy rating. Similarly, Jefferies lowered its price target on Cibus to $5.00 from $8.00 previously, while maintaining a Hold rating on the stock.
These are among recent developments that reflect Cibus’ ongoing efforts to improve agricultural productivity and sustainability through gene editing. The company’s innovative approach and strategic partnerships position it well for future growth, despite current financial losses. With a keen eye on evolving regulations and market opportunities, Cibus is poised to make a significant impact on global agriculture.
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