In a recent transaction disclosed by Cibus, Inc. (NASDAQ:), a small-cap biotechnology company valued at approximately $69 million, Director Prante Gerhard has sold 1,150 shares of Class A Common Stock. According to InvestingPro analysis, the stock has experienced significant volatility, declining over 86% in the past year. The shares were sold at a price of $2.50 each, amounting to a total of $2,875. Following this sale, Gerhard retains ownership of 37,607 shares. This transaction was conducted automatically under a Rule 10b5-1 trading plan, which Gerhard adopted on August 16, 2024. InvestingPro subscribers can access comprehensive insider trading analysis along with 13 additional ProTips that provide deeper insights into Cibus’s financial health and market position.
In other recent news, Cibus, a pioneer in gene editing for agriculture, has been making strides despite reporting a net loss of $201.5 million, primarily due to an impairment of goodwill. 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. Cibus also revealed plans to generate approximately $22.6 million through a direct offering of about 9 million shares of its common stock, a move crucial for the company’s operations.
In terms of executive changes, the company 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.
On the analyst front, Canaccord Genuity (TSX:) 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 lowered its price target for Cibus to $5.00 from the previous $8.00, while maintaining a Hold rating on the stock.
These are among the recent developments that reflect Cibus’s ongoing efforts to enhance 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 regulatory developments and market opportunities, Cibus is poised to make a substantial impact on global agriculture.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
