SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently executed stock sales totaling $9,947, according to a filing with the Securities and Exchange Commission. The transactions were part of a pre-arranged trading plan under Rule 10b5-1.
On November 18, Prante sold 1,150 shares of Class A Common Stock at a price of $4.53 per share. The following day, he sold an additional 1,150 shares at $4.12 per share. Following these transactions, Prante retains ownership of 75,557 shares in the company.
These sales were conducted automatically as part of a trading plan established on August 16, 2024.
In other recent news, agricultural gene editing pioneer, Cibus, has detailed its transition from research and development to commercialization during its Third Quarter 2024 Earnings Conference Call. Despite a reported net loss of $201.5 million, the company highlighted the successful development of the Trait Machine process and collaborations with major seed companies. Cibus has plans to introduce herbicide-resistant and Pod Shatter Reduction traits in the near future, targeting substantial market opportunities in the U.S., Latin America, and Asia. The company anticipates $200 million in annual royalties from rice traits in the U.S. and an additional $150 million from expansion in the Asian market. Expected launches for rice traits in the U.S. are slated for 2027-2028, followed by canola and soybean launches. Cibus also mentioned exploring sustainable ingredients and fragrances, with announcements to be made by the following year. These are just some of the recent developments at Cibus.
InvestingPro Insights
While Gerhard Prante's recent stock sales at Cibus, Inc. (NASDAQ:CBUS) may raise eyebrows, it's crucial to consider the broader financial context of the company. According to InvestingPro data, Cibus has experienced significant revenue growth, with a 449.34% increase in the last twelve months as of Q3 2024. This impressive growth aligns with one of the InvestingPro Tips, which indicates that analysts anticipate sales growth in the current year.
However, investors should note that despite the strong revenue growth, Cibus is currently not profitable. The company's operating income margin stands at a concerning -1621.31%, suggesting significant challenges in converting revenue into profit. This observation is supported by another InvestingPro Tip, which states that analysts do not anticipate the company will be profitable this year.
The stock's recent performance has been volatile, with a strong 20.89% return over the last month, but a substantial -75.58% decline over the past six months. This volatility is reflected in an InvestingPro Tip, which notes that the stock's price movements are quite volatile.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Cibus, providing a deeper understanding of the company's financial health and market position.
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