Cybin Inc. (NASDAQ:HELP – Get Free Report)’s share price was down 6.6% on Monday. The company traded as low as $9.86 and last traded at $9.8990. 261,606 shares were traded during trading, a decline of 79% from the average session volume of 1,266,690 shares. The stock had previously closed at $10.60.
Analyst Ratings Changes
Several research firms recently issued reports on HELP. Barclays began coverage on shares of Cybin in a research note on Friday, September 18th. They issued an “overweight” rating and a $35.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Cybin from $16.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a report on Sunday, October 25th. Finally, TD Cowen raised their target price on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $47.33.
Read Our Latest Report on HELP
Cybin Price Performance
The stock’s 50 day moving average price is $11.96 and its two-hundred day moving average price is $7.74. The firm has a market capitalization of $725.95 million, a price-to-earnings ratio of -3.02 and a beta of 0.64.
Cybin (NASDAQ:HELP – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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.
Insider Activity
In other Cybin news, CFO Greg Cavers acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were acquired at an average cost of $12.91 per share, for a total transaction of $38,730.00. Following the completion of the purchase, the chief financial officer owned 3,000 shares of the company’s stock, valued at approximately $38,730. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric H. L. So 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 $12.39 per share, with a total value of $1,239,000.00. Following the transaction, the insider directly owned 4,465,014 shares in the company, valued at $55,321,523.46. The trade was a 2.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 688,000 shares of company stock worth $8,422,830 in the last 90 days. Insiders own 15.00% of the company’s stock.
Institutional Trading of Cybin
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HELP. WealthPlan Investment Management LLC bought a new position in Cybin in the 3rd quarter worth approximately $1,272,000. Pale Fire Capital SE acquired a new position in shares of Cybin during the second quarter worth approximately $1,015,000. Farther Finance Advisors LLC lifted its holdings in shares of Cybin by 927.4% during the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after buying an additional 20,597 shares during the last quarter. Finally, AXQ Capital LP bought a new stake in shares of Cybin in the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 17.94% of the company’s stock.
About Cybin
Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research programs are designed to address disorders such as major depressive disorder and other conditions where existing treatments may not provide adequate relief.
Cybin’s development platform has included investigational compounds such as CYB003, a deuterated psilocybin analog being studied for depression, and CYB004, an investigational N,N-dimethyltryptamine (DMT) formulation being evaluated for potential use in mental health treatment.
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