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SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold 1,150 shares of Class A Common Stock, according to a recent SEC filing. The shares were sold at a price of $2.50 each, totaling $2,875. Following this transaction, Prante holds 21,507 shares in the company. The sale comes as the $85 million market cap company trades near its 52-week low of $2.17, having declined 86% over the past year. According to InvestingPro analysis, the stock currently shows signs of being undervalued.
The sale was executed automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024, ensuring the transaction was pre-scheduled and compliant with insider trading regulations. With the company’s next earnings report scheduled for February 28, InvestingPro subscribers can access 13 additional investment tips and comprehensive analysis to make informed decisions about CBUS stock.
In other recent news, Cibus, an agricultural gene editing firm, experienced a series of developments. Canaccord Genuity analysts lowered the stock’s price target from $20.00 to $18.00, maintaining a Buy rating. The adjustment followed Cibus’s announcement of a direct stock offering aimed at raising approximately $22.6 million to fund ongoing projects.
Simultaneously, Cibus disclosed plans to increase the base salary of executive Carlo Broos to $320,000, as reported in a recent filing with the Securities and Exchange Commission. The filing did not provide additional context or details about the percentage increase or any additional incentives tied to this revision.
Meanwhile, Jefferies reduced its price target for Cibus to $5.00, maintaining a Hold rating. The firm noted that Cibus’s financial outlook depends on its ability to expand its acreage and successfully develop a soy or wheat trait.
During its Third Quarter 2024 Earnings Conference Call, Cibus reported a net loss of $201.5 million. Despite this, the company expressed optimism about its future, outlining plans to launch herbicide-resistant and Pod Shatter Reduction traits in the coming years. The company expects these developments to open significant market opportunities in the U.S., Latin America, and Asia.
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