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SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), a small-cap biotechnology company with a market capitalization of $85.45 million, reported the sale of 1,150 shares of the company’s Class A common stock. The stock has experienced significant volatility, trading between $2.17 and $23.18 over the past 52 weeks. The shares were sold on February 11 at a price of $2.48 each, totaling $2,852. Following this transaction, Prante holds 19,207 shares. The sale was executed automatically under a Rule 10b5-1 trading plan that Prante had adopted on August 16, 2024. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with 12 additional exclusive ProTips available to subscribers, including detailed insights on the company’s financial health and growth prospects.
In other recent news, Cibus has been the subject of multiple 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 follows Cibus’s announcement of a direct stock offering, planned to raise approximately $22.6 million for the advancement of its gene-edited plant productivity traits and soybean platform development.
Simultaneously, Cibus’s Compensation Committee approved a new base salary of $320,000 for executive Carlo Broos, as disclosed in a recent filing with the Securities and Exchange Commission. The specifics of the increase were not elaborated upon in the filing.
In addition, Jefferies has adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining a Hold rating. The firm’s decision is based on Cibus’s balance sheet management and the potential for enhanced negotiating power if the European Union approves gene editing in the upcoming year. These are recent developments that have shaped the current situation for Cibus.
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