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Cibus

CBUS on Nasdaq. Market value $47m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 62 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

  • Rory B. Riggs
    Insider or founder
    33.0%
    Since 18 September 2024
    What they said

    Item 4 of the Initial Schedule 13D is amended and restated in its entirety as follows: The Reporting Person was appointed as Chair of the board of directors of the Issuer in connection with the Issuer's merger with Cibus Global, LLC on May 31, 2023. Previously, Mr. Riggs served…

    Read the filing
  • FMR LLC
    Passive investor
    at least 15.0%+1.1 pts
    (filed with 1 related holder)
    Since 31 March 2026
  • Armistice Capital, LLC
    Passive investor
    at least 5.0%−1.0 pts
    (filed with 1 related holder)
    Since 30 June 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought or sold on the open market in the last 12 months.

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Cibus’ filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 17 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 6 later 8-Ks.

  • Doubt it can keep going

    Serious

    The company or its auditor warned it may not have enough money to last the next year.

    “These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the issuance of these condensed consolidated financial statements.”
    Show the full paragraph
    The Company has incurred losses since its inception and anticipates that it will continue to generate losses for the next several years. The Company’s net loss was $ 43.4 million and cash used in operating activities was $ 20.9 million for the six months ended June 30, 2026. As of June 30, 2026, the Company had $ 20.4 million of cash and cash equivalents and $ 14.4 million of current liabilities. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the issuance of these condensed consolidated financial statements.

    From the 10-Q filed 13 August 2026, Part I, Item 1. Financial Statements. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.