Cybin Inc. (NASDAQ:HELP) Receives $48.60 Consensus Target Price from Analysts

Shares of Cybin Inc. (NASDAQ:HELP – Get Free Report) have earned a consensus recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $48.60.

Several analysts have recently commented on HELP shares. TD Cowen increased their target price on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wells Fargo & Company began coverage on shares of Cybin in a report on Monday, July 27th. They set an “overweight” rating and a $16.00 target price for the company.

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Institutional Trading of Cybin

A number of large investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in shares of Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after acquiring an additional 2,400 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Cybin in the second quarter valued at approximately $75,000. Bank of America Corp DE increased its stake in Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after buying an additional 11,790 shares during the last quarter. Pale Fire Capital SE acquired a new stake in shares of Cybin in the second quarter valued at about $1,015,000. Finally, Millennium Management LLC raised its stake in shares of Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after purchasing an additional 959,448 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

Cybin Stock Performance

Shares of NASDAQ:HELP opened at $13.24 on Friday. Cybin has a 52 week low of $3.76 and a 52 week high of $14.35. The company’s fifty day moving average is $8.54 and its 200-day moving average is $6.44. The company has a market capitalization of $967.31 million, a PE ratio of -4.38 and a beta of 0.55.

Cybin (NASDAQ:HELP – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, analysts forecast that Cybin will post -2.95 EPS for the current year.

Cybin Company Profile

(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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