Cybin (NASDAQ:HELP) Stock Moved Down to “Strong Sell” by Wall Street Zen

Wall Street Zen cut shares of Cybin (NASDAQ:HELP – Free Report) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other analysts also recently issued reports on HELP. Wells Fargo & Company initiated coverage on Cybin in a research note on Monday, July 27th. They issued an “overweight” rating and a $16.00 price target on the stock. TD Cowen upped their price objective on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Barclays initiated coverage on Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $46.33.

Read Our Latest Stock Report on HELP

Cybin Stock Down 1.8%

Cybin stock opened at $11.70 on Friday. The company has a 50 day moving average of $11.75 and a 200-day moving average of $7.56. Cybin has a twelve month low of $3.76 and a twelve month high of $15.15. The stock has a market capitalization of $921.73 million, a PE ratio of -3.87 and a beta of 0.53.

Cybin (NASDAQ:HELP – Get Free Report) last issued 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). Equities analysts anticipate that Cybin will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Cybin

In other Cybin news, CEO Michael Halstead bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was acquired at an average price of $13.47 per share, with a total value of $1,347,000.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Glavine purchased 100,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was acquired at an average price of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the purchase, the insider directly owned 4,271,252 shares in the company, valued at approximately $53,262,512.44. The trade was a 2.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 688,000 shares of company stock worth $8,422,830 in the last three months. 15.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cybin

An institutional investor recently bought a new position in Cybin stock. Pale Fire Capital SE bought a new stake in Cybin Inc. (NASDAQ:HELP – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 153,505 shares of the company’s stock, valued at approximately $1,015,000. Pale Fire Capital SE owned about 0.21% of Cybin as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

(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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