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SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS), a small-cap biotechnology company with a market capitalization of $82 million, has reported a recent insider transaction. According to a filing with the Securities and Exchange Commission, Director Gerhard Prante sold 1,150 shares of Class A Common Stock on January 24, 2025. The shares were sold at $2.60 each, totaling approximately $2,990. The transaction occurs as InvestingPro data shows the stock trading near its 52-week low of $2.17, having declined over 85% in the past year.
Following this transaction, Prante retains ownership of 33,007 shares in the company. The sale was executed automatically as part of a pre-established Rule 10b5-1 trading plan that Prante adopted on August 16, 2024.
The transaction was signed off by Jason Stokes, acting as Attorney-in-Fact for Gerhard Prante.
In other recent news, Cibus, a pioneer in agricultural gene editing, has seen significant developments. Canaccord Genuity analysts have revised the company's stock price target from $20.00 to $18.00 while maintaining a Buy rating. This follows the company's recent announcement of a direct stock offering aimed at raising approximately $22.6 million for ongoing projects.
The company has also set a new base salary of $320,000 for executive Carlo Broos, reflecting a change in compensation arrangement. Despite reporting a net loss of $201.5 million, Cibus is optimistic about generating substantial revenues from its rice traits in the U.S. and Asian markets.
Jefferies has adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining a Hold rating. This decision aligns with Cibus's careful management of its balance sheet and focus on maintaining the quality of its royalty economics.
Cibus's future hinges on the successful development of either a soy or wheat trait, or the expansion of its product across 2 to 5 million acres. The company anticipates significant years ahead, with the validation of its single-cell cloning platform expected in 2025 to 2026.
These recent developments underscore Cibus's commitment to advancing its gene editing technology within the agricultural sector and its transition from research and development to commercial operations.
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