SAN DIEGO—Cibus, Inc. (NASDAQ:CBUS) Director Gerhard Prante has reported the sale of 1,150 shares of Class A common stock, according to a recent SEC filing. The shares were sold at a price of $4.69 each, totaling approximately $5,393. This transaction was carried out automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. Following this sale, Prante now holds 65,207 shares of Cibus stock.The sale comes amid significant market volatility for Cibus, whose shares have declined about 78% year-to-date and currently trade at $4.04. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics. InvestingPro subscribers can access 8 additional key insights about Cibus, including detailed insider trading patterns and comprehensive financial health scores, through the platform's exclusive Pro Research Report.
In other recent news, Cibus, a biotechnology company specializing in agricultural gene editing, reported a net loss of $201.5 million in its third quarter 2024 earnings conference call. Despite this, the company announced its successful transition from research and development to commercial operations, with a focus on the development of the Trait Machine process and partnerships with major seed companies. Jefferies recently adjusted its price target for Cibus, reducing it from $8.00 to $5.00, but maintained its Hold rating on the stock. The company's future hinges on acreage expansion, with the path to free cash flow breakeven dependent on the successful development of a soy or wheat trait, or the ability to expand its product across 2 to 5 million acres. Cibus expects to earn $200 million annually in royalties from U.S. rice traits and an additional $150 million from expansion into Asian markets. The company also plans to launch herbicide-resistant and Pod Shatter Reduction traits, targeting significant market opportunities in the U.S., Latin America, and Asia. In partnership with Albaugh, Cibus is working on herbicide labeling in Latin America and exploring sustainable ingredients and fragrances, with announcements expected by next year. These recent developments reflect Cibus's ongoing efforts to enhance agricultural productivity and sustainability through gene editing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.