Cybin (NASDAQ:HELP) Raised to “Sell” at Wall Street Zen

Cybin (NASDAQ:HELP – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company started coverage on Cybin in a research report on Monday, July 27th. They set an “overweight” rating and a $16.00 target price for the company. Barclays started coverage on Cybin in a report on Friday, September 18th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, TD Cowen raised 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. According to MarketBeat.com, Cybin currently has a consensus rating of “Buy” and a consensus price target of $46.33.

View Our Latest Stock Report on HELP

Cybin Stock Performance

NASDAQ:HELP opened at $10.55 on Friday. The stock’s fifty day moving average price is $12.13 and its two-hundred day moving average price is $8.02. Cybin has a 52-week low of $3.76 and a 52-week high of $15.15. The company has a market cap of $842.00 million, a price-to-earnings ratio of -3.49 and a beta of 0.53.

Cybin (NASDAQ:HELP – Get Free Report) last announced its quarterly earnings data 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, equities analysts predict that Cybin will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Cybin

In other Cybin news, insider Paul Glavine acquired 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the acquisition, the insider directly owned 4,271,252 shares of the company’s stock, valued at approximately $53,262,512.44. This represents a 2.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Halstead acquired 100,000 shares of Cybin stock in a transaction on 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 completion of the purchase, the chief executive officer owned 168,568 shares of the company’s stock, valued at approximately $2,270,610.96. The trade was a 145.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 688,000 shares of company stock valued at $8,422,830. 15.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Cybin

Institutional investors have recently bought and sold shares of the business. WealthPlan Investment Management LLC acquired a new position in shares of Cybin in the 3rd quarter valued at $1,272,000. Farther Finance Advisors LLC boosted its position in shares of Cybin by 927.4% in 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. AXQ Capital LP bought a new position in shares of Cybin in the 2nd quarter worth $75,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Cybin during the second quarter worth $1,015,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Cybin (NASDAQ:HELP)

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