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SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold a portion of his holdings in the company. According to a filing submitted to the Securities and Exchange Commission, Prante sold 1,150 shares of Class A common stock on February 21, 2025, at an average price of $2.20 per share, amid a significant 88% decline in share price over the past year. The total value of the transaction amounted to $2,530.
Following this sale, Prante retains ownership of 10,007 shares in Cibus. The transaction was conducted under a pre-established Rule 10b5-1 trading plan, which Prante had adopted on August 16, 2024, as noted in the filing. The company is scheduled to report its next earnings on February 28, 2025.
Cibus, Inc., headquartered in San Diego, operates in the agricultural chemicals sector. The company focuses on developing and commercializing innovative solutions for the agriculture industry. With a market capitalization of $78 million and current trading levels suggesting undervaluation according to InvestingPro analysis, the company shows strong revenue growth potential despite operating with moderate debt levels. InvestingPro subscribers have access to 16 additional key insights about CBUS and comprehensive analysis of 1,400+ US stocks.
In other recent news, Cibus Inc. announced plans to raise approximately $22.6 million through a direct offering of about 9 million shares of common stock. This move is intended to fund the company’s ongoing projects, particularly the advancement of its gene-edited plant productivity traits and the development of its soybean platform. The offering includes warrants for additional shares, contingent on certain conditions such as the successful completion of the soybean platform. In related developments, Canaccord Genuity adjusted its price target for Cibus from $20.00 to $18.00, maintaining a Buy rating. Jefferies also revised its price target for the company, lowering it from $8.00 to $5.00 while keeping a Hold rating. Additionally, Cibus disclosed a new base salary of $320,000 for executive Carlo Broos, as approved by the Compensation Committee. The company did not provide details on the previous salary or any additional incentives related to this change. These updates reflect Cibus’s strategic focus on advancing its gene-editing technology and adjusting its executive compensation structure.
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