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SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), a $77 million market cap biotechnology company whose stock has declined about 85% over the past year according to InvestingPro data, sold 1,150 shares of the company’s Class A common stock on January 27, according to a recent SEC filing. The shares were sold at a price of $2.37 each, totaling $2,725. Following this transaction, Prante holds 31,857 shares in the company. The sale was conducted automatically under a pre-established Rule 10b5-1 trading plan, which Prante adopted on August 16, 2024. InvestingPro analysis indicates the company currently shows a WEAK financial health score, with 13 additional key insights available to subscribers.
In other recent news, Cibus has been making significant strides in its operations despite facing financial losses. The agriculture chemicals company recently disclosed a new base salary of $320,000 for executive Carlo Broos, following significant revenue growth of over 440% in the last twelve months. However, Cibus continues to operate at a loss, recently reporting a net loss of $201.5 million, primarily due to an impairment of goodwill. In an effort to fund its ongoing projects, Cibus plans to generate approximately $22.6 million through a direct offering of about 9 million shares of its common stock. This comes after Canaccord Genuity analysts lowered the stock’s price target from $20.00 to $18.00, maintaining a Buy rating, and Jefferies adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining its Hold rating. These recent developments underscore the company’s commitment to advancing its gene editing technology within the agricultural sector, with the goal of enhancing agricultural productivity and sustainability.
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