Cybin (NASDAQ:HELP) CEO Michael Halstead Purchases 100,000 Shares

Cybin Inc. (NASDAQ:HELPGet Free Report) CEO Michael Halstead bought 100,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $13.47 per share, for a total transaction of $1,347,000.00. Following the purchase, the chief executive officer owned 168,568 shares in the company, valued at approximately $2,270,610.96. This trade represents a 145.84% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cybin Stock Performance

Shares of NASDAQ:HELP traded up $1.29 during midday trading on Monday, hitting $13.66. 2,863,175 shares of the company’s stock traded hands, compared to its average volume of 1,248,638. The firm’s fifty day moving average price is $10.67 and its two-hundred day moving average price is $7.10. Cybin Inc. has a twelve month low of $3.76 and a twelve month high of $15.15. The company has a market cap of $1.08 billion, a PE ratio of -4.52 and a beta of 0.63.

Cybin (NASDAQ:HELPGet Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). As a group, equities research analysts anticipate that Cybin Inc. will post -2.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Cybin stock. AXQ Capital LP bought a new stake in Cybin Inc. (NASDAQ:HELPFree Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,315 shares of the company’s stock, valued at approximately $75,000. Institutional investors own 17.94% of the company’s stock.

Analyst Upgrades and Downgrades

HELP has been the subject of a number of recent research reports. Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Wells Fargo & Company started coverage on Cybin in a research report on Monday, July 27th. They set an “overweight” rating and a $16.00 price target on the stock. TD Cowen upped their price target on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Barclays began coverage on Cybin in a report on Friday. They issued an “overweight” rating and a $35.00 price target for the company. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $46.33.

Get Our Latest Stock Report on HELP

Cybin Company Profile

(Get Free Report)

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.

Further Reading

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