Paul Glavine Acquires 90,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELPGet Free Report) insider Paul Glavine purchased 90,000 shares of Cybin stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $11.59 per share, for a total transaction of $1,043,100.00. Following the completion of the transaction, the insider owned 4,071,252 shares in the company, valued at $47,185,810.68. The trade was a 2.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cybin Trading Up 9.1%

Shares of NASDAQ:HELP traded up $1.12 during trading on Wednesday, reaching $13.52. 810,744 shares of the company traded hands, compared to its average volume of 1,193,050. Cybin Inc. has a 52-week low of $3.76 and a 52-week high of $14.35. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.46 and a beta of 0.63. The business’s fifty day moving average is $9.56 and its 200-day moving average is $6.76.

Cybin (NASDAQ:HELPGet Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, sell-side analysts predict that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cybin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC raised 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 worth $8,414,000 after buying an additional 959,448 shares in the last quarter. Pale Fire Capital SE bought a new stake in Cybin during the 2nd quarter valued at approximately $1,015,000. Bank of America Corp DE grew its holdings in shares of Cybin by 66.8% during the 2nd 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 period. AXQ Capital LP purchased a new position in shares of Cybin during the 2nd quarter worth approximately $75,000. Finally, Osaic Holdings Inc. raised 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 worth $63,000 after acquiring an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HELP shares. Wall Street Zen raised shares of Cybin from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Wells Fargo & Company assumed coverage on Cybin in a report on Monday, July 27th. They set an “overweight” rating and a $16.00 price target on the stock. Finally, TD Cowen upped their price target on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $48.60.

View Our Latest Analysis on HELP

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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