Cibus director Gerhard Prante sells shares worth $6,106

Published 17/01/2025, 21:30
Cibus director Gerhard Prante sells shares worth $6,106

SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Prante sold a total of 2,300 shares of Class A Common Stock over two days, January 15 and 16, 2025. The shares were sold at prices ranging from $2.56 to $2.75 per share, resulting in a total transaction value of $6,106. The transaction comes amid significant stock volatility, with CBUS shares down nearly 86% over the past year. According to InvestingPro data, analyst price targets currently range from $4 to $25, suggesting potential upside from current levels near $2.47.

Following these transactions, Prante now holds 39,907 shares directly. The sales were executed under a pre-arranged trading plan, in accordance with Rule 10b5-1, which Prante adopted on August 16, 2024. InvestingPro's Fair Value analysis suggests CBUS is currently undervalued, with 12 additional exclusive ProTips available to subscribers.

In other recent news, Cibus, Inc., an agriculture chemicals company, has been making significant strides despite facing financial losses. The company recently reported a net loss of $201.5 million, primarily due to an impairment of goodwill. However, Cibus remains optimistic about its future, citing the successful development of its Trait Machine process and partnerships with major seed companies.

Cibus anticipates earning $200 million annually in royalties from rice traits in the U.S. and an additional $150 million from expansion into Asian markets. The company is also planning to launch herbicide-resistant and Pod Shatter Reduction traits, targeting significant market opportunities in the U.S., Latin America, and Asia.

In other developments, the Compensation Committee of Cibus's Board of Directors sanctioned a base salary of $320,000 for Mr. Carlo Broos, a key executive. The company has been experiencing significant revenue growth of over 440% in the last twelve months, though it continues to operate at a loss.

Despite these advancements, Jefferies recently adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, while maintaining its Hold rating on the stock. This decision comes as Cibus is noted for carefully managing its balance sheet, focusing on maintaining the quality of its royalty economics.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.