Sphera Funds Management LTD. Reduces Position in Cybin Inc. (NYSE:CYBN)

Sphera Funds Management LTD. lessened its holdings in shares of Cybin Inc. (NYSE:CYBN) by 42.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 538,111 shares of the company’s stock after selling 395,114 shares during the period. Sphera Funds Management LTD. owned about 2.66% of Cybin worth $4,746,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CYBN. Global Retirement Partners LLC bought a new position in Cybin in the fourth quarter worth approximately $46,000. Marshall Wace LLP bought a new position in Cybin in the fourth quarter worth approximately $94,000. Cowa LLC acquired a new position in shares of Cybin during the fourth quarter worth $115,000. Essential Planning LLC. acquired a new position in shares of Cybin during the fourth quarter worth $138,000. Finally, Diametric Capital LP acquired a new position in shares of Cybin during the fourth quarter worth $157,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Guggenheim assumed coverage on Cybin in a research report on Thursday, March 13th. They set a “buy” rating and a $35.00 price target on the stock. Cantor Fitzgerald raised Cybin to a “strong-buy” rating in a research report on Tuesday. Canaccord Genuity Group reduced their target price on Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, HC Wainwright reduced their target price on Cybin from $190.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Cybin Stock Performance

NYSE CYBN opened at $6.56 on Friday. The stock has a 50-day simple moving average of $6.72 and a two-hundred day simple moving average of $8.65. The firm has a market capitalization of $140.89 million, a P/E ratio of -1.50 and a beta of 0.60. Cybin Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $13.88.

Cybin Company Profile

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company’s development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.