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SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS) director Gerhard Prante recently executed a stock sale, according to a filing with the Securities and Exchange Commission. The transaction comes as the company's stock, currently valued at $87.82 million in market capitalization, has experienced significant volatility, declining nearly 86% over the past year. According to InvestingPro analysis, the stock is currently trading below its Fair Value. On February 13, Prante sold 1,150 shares of Cibus Class A common stock at a price of $2.53 per share, totaling $2,909. Following this transaction, Prante retains ownership of 16,907 shares.
This sale was conducted automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. Such plans allow insiders of publicly traded corporations to set up a predetermined schedule for buying or selling stocks, thereby helping to avoid concerns over insider trading.
In other recent news, Cibus has been the subject of several significant developments. Canaccord Genuity analysts have revised their outlook on Cibus, lowering the stock's price target from $20.00 to $18.00, while maintaining a Buy rating. This adjustment follows Cibus's announcement of a direct stock offering aimed at funding ongoing projects, with an expected generation of approximately $22.6 million.
In addition to financial adjustments, Cibus has also made changes to its executive compensation, setting a new base salary of $320,000 for executive Carlo Broos. The change was approved by the Compensation Committee of Cibus's Board of Directors and is documented in a recent filing with the Securities and Exchange Commission.
Moreover, Jefferies has lowered its price target for Cibus to $5.00 from the previous $8.00, while maintaining a Hold rating. This adjustment is due to Cibus's focus on maintaining the quality of its royalty economics and the company's potential to enhance its negotiating stance if the European Union approves gene editing. These are recent developments that reflect the ongoing dynamics within the company.
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