SAN DIEGO—Gerhard Prante, a director at Cibus, Inc. (NASDAQ:CBUS), recently sold 1,150 shares of the company's Class A common stock. The transaction, which took place on December 4, 2024, was executed at a price of $4.39 per share, amounting to a total value of $5,048. The sale comes amid a challenging year for the $120 million market cap company, whose shares have declined nearly 80% year-to-date according to InvestingPro data.
Following this sale, Prante now holds 64,057 shares directly. The sale was conducted automatically under a Rule 10b5-1 trading plan that Prante adopted on August 16, 2024. InvestingPro analysis suggests the stock is currently undervalued, with 10+ additional investment insights available to subscribers. The company's comprehensive Pro Research Report, part of InvestingPro's coverage of 1,400+ US stocks, provides detailed analysis of its financial health and growth prospects.
In other recent news, Cibus, a biotechnology company specializing in gene editing for agriculture, has experienced some significant developments. Despite a net loss of $201.5 million reported in its third quarter 2024 earnings conference call, the company remains optimistic about its future. Cibus anticipates earning $200 million annually in royalties from rice traits in the U.S. and a further $150 million from expansion into Asian markets.
The company's transition from research and development to commercial operations is underscored by successful development of its Trait Machine process and partnerships with major seed companies. Additionally, Jefferies adjusted its price target for Cibus, reducing it to $5.00 from the previous $8.00, yet maintained its Hold rating on the stock.
Cibus's path to reaching free cash flow breakeven is contingent upon successful development of a soy or wheat trait, or the ability to get its product across 2 to 5 million acres. This could result in higher royalties, particularly from U.S. rice. 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.
The company is also exploring sustainable ingredients and fragrances, with announcements expected by next year. These are among the recent developments that reflect Cibus's ongoing efforts to enhance agricultural productivity and sustainability through gene editing.
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