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Cibus, Inc. (NASDAQ:CBUS) director Gerhard Prante recently sold a portion of his holdings in the company, according to a recent SEC filing. On February 24, Prante sold 1,150 shares of Class A Common Stock at a price of $2.07 per share, totaling $2,380. Following this transaction, Prante now owns 8,857 shares directly. The sale comes amid a challenging period for the stock, which has declined over 89% in the past year.
The sale was executed as part of a pre-established Rule 10b5-1 trading plan, which Prante adopted on August 16, 2024. This plan allows insiders to sell a predetermined number of shares at set intervals, providing a structured approach to managing their equity stakes. According to InvestingPro, the company is scheduled to report earnings on February 28, which could provide important insights into the company’s performance.
Cibus, Inc., based in San Diego, operates in the agriculture chemicals sector, and the company’s stock is traded on the NASDAQ under the ticker symbol CBUS.
In other recent news, Cibus has announced a direct stock offering to raise approximately $22.6 million through the sale of about 9 million shares. This capital will support the advancement of Cibus’s gene-edited plant productivity traits and further development of its soybean platform. The offering includes warrants for additional shares, contingent on certain conditions being met. Canaccord Genuity has adjusted its price target for Cibus, lowering it from $20.00 to $18.00, while maintaining a Buy rating. Meanwhile, Jefferies has also revised its outlook, reducing the price target from $8.00 to $5.00, but keeping a Hold rating. In executive news, Cibus has set a new base salary of $320,000 for executive Carlo Broos. This change was documented in a recent SEC filing, reflecting an update in the company’s executive compensation plan. These developments highlight Cibus’s ongoing strategic initiatives and financial adjustments.
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