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

Key Points

• Wall Street Zen upgraded Cybin from “strong sell” to “sell,” contrasting with the broader analyst consensus of “Buy” and an average price target of $47.33.
• Cybin opened at $10.19, with a market capitalization of approximately $813 million, and recently reported an adjusted quarterly loss of $0.91 per share—worse than the expected $0.80 loss.
• Insiders have been buying shares: executives purchased 688,000 shares worth about $8.4 million over the last quarter, while insiders own 15% of the company.

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 report released on Sunday, Wall Street Zen reports.

Other research analysts have also recently issued research reports about the stock. TD Cowen lifted their price objective on shares of Cybin from $8.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 20th. 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 note on Thursday. Finally, Barclays initiated coverage on Cybin in a research report on Friday, September 18th. They set an "overweight" rating and a $35.00 target price on the stock. Six research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $47.33.

Cybin Price Performance

NASDAQ:HELP opened at $10.19 on Friday. The firm has a market cap of $813.26 million, a price-to-earnings ratio of -3.37 and a beta of 0.53. The company has a 50 day moving average price of $12.09 and a 200-day moving average price of $8.19. Cybin has a 1-year low of $3.76 and a 1-year high of $15.15.

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 the consensus estimate of ($0.80) by ($0.11). On average, sell-side analysts anticipate that Cybin will post -2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eric H. L. So purchased 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the acquisition, the insider owned 4,465,014 shares in the company, valued at $55,321,523.46. The trade was a 2.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Halstead purchased 100,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average cost of $13.47 per share, with a total value of $1,347,000.00. Following the acquisition, the chief executive officer owned 168,568 shares in the company, valued at $2,270,610.96. This represents a 145.84% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 688,000 shares of company stock worth $8,422,830. Corporate insiders own 15.00% of the company's stock.

Institutional Trading of Cybin

Several institutional investors have recently modified their holdings of the stock. AXQ Capital LP purchased a new stake in shares of Cybin during the second quarter worth about $75,000. Farther Finance Advisors LLC lifted its stake in Cybin by 927.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company's stock valued at $280,000 after buying an additional 20,597 shares in the last quarter. WealthPlan Investment Management LLC purchased a new position in Cybin in the 3rd quarter valued at about $1,272,000. Finally, Pale Fire Capital SE purchased a new position in Cybin in the 2nd quarter valued at about $1,015,000. Institutional investors and hedge funds own 17.94% of the company's stock.

Cybin Company Profile

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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