Cybin (NASDAQ:HELP) Announces Earnings Results

Cybin (NASDAQ:HELP – Get Free Report) issued its quarterly earnings data on Monday. The company reported $999.00 EPS for the quarter, Zacks reports.

Cybin Stock Up 4.0%

Shares of Cybin stock opened at $6.74 on Monday. Cybin has a fifty-two week low of $3.76 and a fifty-two week high of $9.83. The stock has a market capitalization of $348.10 million, a price-to-earnings ratio of -1.62 and a beta of 0.74. The stock has a 50 day simple moving average of $4.86.

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Hedge Funds Weigh In On Cybin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its position in shares of Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after purchasing an additional 2,400 shares during the last quarter. Bank of America Corp DE grew its position in shares of Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after acquiring an additional 11,790 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares during the period. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HELP shares. HC Wainwright increased their target price on shares of Cybin from $55.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. TD Cowen began coverage on shares of Cybin in a research note on Monday, April 13th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $58.75.

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About Cybin

(Get Free Report)

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.

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