Cybin (NASDAQ:HELP – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
HELP has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of Cybin from $16.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Barclays assumed coverage on shares of Cybin in a research note on Friday, September 18th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, TD Cowen boosted their price objective on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $47.33.
Get Our Latest Stock Report on Cybin
Cybin Stock Up 6.8%
Shares of HELP opened at $8.96 on Friday. The stock has a 50-day moving average of $11.51 and a two-hundred day moving average of $7.77. Cybin has a one year low of $3.76 and a one year high of $15.15.
Cybin (NASDAQ:HELP – Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). On average, equities analysts expect that Cybin will post -2.95 earnings per share for the current year.
Insiders Place Their Bets
In other Cybin news, CFO Greg Cavers acquired 3,000 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were acquired at an average price of $12.91 per share, with a total value of $38,730.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Glavine purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 688,000 shares of company stock valued at $8,422,830. Insiders own 15.00% of the company’s stock.
Hedge Funds Weigh In On Cybin
A number of hedge funds have recently modified their holdings of the business. Pale Fire Capital SE acquired a new stake in Cybin in the 2nd quarter valued at $1,015,000. ACT Capital Partners L.P. acquired a new stake in shares of Cybin during the third quarter valued at approximately $1,659,000. WealthPlan Investment Management LLC acquired a new stake in shares of Cybin during the 3rd quarter valued at $1,272,000. Farther Finance Advisors LLC grew its holdings in Cybin by 927.4% during the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after purchasing an additional 20,597 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in Cybin in the 2nd quarter valued at approximately $75,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.
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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