Cybin Inc. (NASDAQ:HELP – Get Free Report) traded down 5.6% on Tuesday. The company traded as low as $10.53 and last traded at $10.4130. 96,798 shares traded hands during trading, a decline of 92% from the average session volume of 1,253,279 shares. The stock had previously closed at $11.03.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on HELP shares. Wells Fargo & Company started coverage on Cybin in a research note on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price on the stock. Wall Street Zen lowered Cybin from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Barclays assumed coverage on Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 price target for the company. Finally, TD Cowen boosted their price target on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $46.33.
View Our Latest Stock Analysis on HELP
Cybin Stock Performance
Cybin (NASDAQ:HELP – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.11). On average, equities research analysts expect that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Cybin news, insider Paul Glavine acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was acquired at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the transaction, the insider directly owned 4,271,252 shares of the company’s stock, valued at $53,262,512.44. This represents a 2.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Greg Cavers bought 3,000 shares of Cybin stock in a transaction dated Tuesday, September 29th. The shares were acquired at an average cost of $12.91 per share, with a total value of $38,730.00. Following the completion of the purchase, the chief financial officer owned 3,000 shares in the company, valued at approximately $38,730. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 688,000 shares of company stock valued at $8,422,830 over the last ninety days. 15.00% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Cybin
A number of large investors have recently added to or reduced their stakes in the stock. AXQ Capital LP purchased a new stake in shares of Cybin during the second quarter worth about $75,000. Farther Finance Advisors LLC raised its position in shares of Cybin by 927.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after purchasing an additional 20,597 shares during the last quarter. Finally, Pale Fire Capital SE acquired a new position in shares of Cybin during the 2nd quarter worth about $1,015,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.
About Cybin
Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.
Cybin’s development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.
See Also
- Five stocks we like better than Cybin
- Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs
- IonQ Fell 9% on a $1.3 Billion Deal—Is Wall Street Missing Something?
- JPMorgan Earnings Miss Estimates But Reveal Broad-Based Strength
- Flex’s AI Infrastructure Spin-Off Could Unlock Hidden Value
Receive News & Ratings for Cybin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cybin and related companies with MarketBeat.com's FREE daily email newsletter.
