Shares of Cybin Inc. (NASDAQ:HELP – Get Free Report) have been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.33.
Several equities analysts recently commented on the company. Barclays assumed coverage on Cybin in a research note on Friday, September 18th. They issued an “overweight” rating and a $35.00 target price for the company. Wall Street Zen cut Cybin from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. TD Cowen upped their price objective on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company began coverage on shares of Cybin in a research report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price on the stock.
Check Out Our Latest Report on Cybin
Insider Activity at Cybin
Hedge Funds Weigh In On Cybin
A number of large investors have recently modified their holdings of the company. Pale Fire Capital SE purchased a new stake in shares of Cybin during the 2nd quarter worth about $1,015,000. Farther Finance Advisors LLC increased its position in 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 in the last quarter. Finally, AXQ Capital LP purchased a new position in Cybin in the second quarter valued at approximately $75,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.
Cybin Stock Performance
Shares of NASDAQ HELP opened at $11.80 on Friday. The firm has a market cap of $939.16 million, a P/E ratio of -3.91 and a beta of 0.53. Cybin has a 1 year low of $3.76 and a 1 year high of $15.15. The firm’s 50 day moving average price is $12.07 and its 200 day moving average price is $7.78.
Cybin (NASDAQ:HELP – Get Free Report) last issued 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). As a group, equities analysts predict that Cybin will post -2.95 EPS for the current year.
Cybin Company Profile
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.
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