Bitcoin extends losses after Trump threatens fresh tariffs and export curbs
SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), a small-cap biotechnology company with a market capitalization of $85.45 million, recently sold 1,150 shares of the company’s Class A common stock. The sale comes amid a challenging period for the company’s stock, which has declined nearly 86% over the past year. The shares were sold at a price of $2.55 each, amounting to a total transaction value of $2,932. This sale was executed automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. Following this transaction, Prante holds 22,657 shares directly. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with 13 additional ProTips available to help investors make informed decisions about this volatile stock.
In other recent news, Cibus, a pioneer in gene editing for agriculture, reported a net loss of $201.5 million in its Third Quarter 2024 Earnings Conference Call. Despite this, the company remains optimistic about its future, with plans to launch herbicide-resistant and Pod Shatter Reduction traits in the coming years. In a strategic move to fund ongoing projects, Cibus plans to raise approximately $22.6 million through a direct offering of about 9 million shares of its common stock. This decision comes after Canaccord Genuity analysts adjusted their outlook on Cibus, lowering the stock’s price target from $20.00 to $18.00, while still recommending a Buy rating.
Simultaneously, the Compensation Committee of Cibus’s Board of Directors approved a new base salary for executive Carlo Broos, signaling possible shifts in corporate governance. Meanwhile, Jefferies adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, maintaining a Hold rating on the stock. This change comes as Cibus focuses on maintaining the quality of its royalty economics and potentially enhancing its negotiating stance pending the European Union’s approval of gene editing.
These recent developments highlight Cibus’s commitment to enhancing agricultural productivity through gene editing and transitioning from R&D to commercial gene editing in agriculture. The company’s path to reaching free cash flow breakeven is contingent upon the successful development of either a soy or wheat trait, or the ability to get its product across 2 to 5 million acres. This focus on gene editing technology within the agricultural sector underlines Cibus’s commitment to its research and development initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.