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Cibus director Prante sells shares worth $4,312

Published 20/12/2024, 00:12
Cibus director Prante sells shares worth $4,312
CBUS
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Cibus, Inc. (NASDAQ:CBUS) Director Gerhard Prante recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The sale comes amid a challenging period for the $99 million market cap company, whose stock has declined nearly 29% in the past week and 70% over the last six months. On December 18, Prante sold 1,150 shares of Cibus’ Class A Common Stock at a price of $3.75 per share, totaling $4,312. Following this transaction, Prante holds 52,557 shares directly. This sale was executed automatically as part of a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. According to InvestingPro analysis, the stock currently trades below its Fair Value, with a WEAK overall financial health score. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro offers detailed reports covering over 1,400 US stocks, including Cibus.

In other recent news, Cibus Inc., a pioneer in agricultural gene editing, reported significant strides in its shift from research and development to commercial operations despite a net loss of $201.5 million. The company anticipates earning $200 million annually in royalties from rice traits in the U.S. and an additional $150 million from expansion into Asian markets. Furthermore, Cibus plans to launch herbicide-resistant and Pod Shatter Reduction traits, targeting significant market opportunities in the U.S., Latin America, and Asia.

In a related development, Carlo Broos, a key executive at Cibus, has been approved for a new base salary of $320,000 by the company’s Board of Directors. This change in the compensation arrangement was disclosed in a recent filing with the Securities and Exchange Commission, with no additional information regarding bonuses or incentives tied to this revision.

Meanwhile, financial firm Jefferies has 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 adjustment comes as Cibus is noted for carefully managing its balance sheet, focusing on maintaining the quality of its royalty economics.

Lastly, Cibus is partnering with Albaugh to aid in herbicide labeling in Latin America and is also exploring sustainable ingredients and fragrances, with announcements expected by next year. These 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.

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