Cybin (NASDAQ:HELP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Cybin from “sell” to “strong sell.” Despite that call, six analysts rate the stock Buy, with an average price target of $47.33.
• Cybin reported a quarterly loss of $0.91 per share, missing analysts’ estimate of a $0.80 loss; analysts expect a full-year loss of $2.95 per share.
• Insiders bought 688,000 shares worth about $8.4 million over the past 90 days, including purchases by the CFO and another company insider.

Cybin (NASDAQ:HELP - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on the stock. Barclays assumed coverage on shares of Cybin in a report on Friday, September 18th. They issued an "overweight" rating and a $35.00 target price on the stock. Wells Fargo & Company upped their price objective on Cybin from $16.00 to $22.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Finally, TD Cowen boosted their price target 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. Six analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $47.33.

Cybin Stock Up 6.8%

HELP stock opened at $8.96 on Friday. Cybin has a 12 month low of $3.76 and a 12 month high of $15.15. The firm's fifty day simple moving average is $11.51 and its 200-day simple moving average is $7.77.

Cybin (NASDAQ:HELP - Get Free Report) last posted its quarterly 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). On average, equities analysts anticipate that Cybin will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling at Cybin

In other news, CFO Greg Cavers bought 3,000 shares of the stock in a transaction dated 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 acquisition, the chief financial officer owned 3,000 shares in the company, valued at $38,730. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric H. L. So purchased 100,000 shares of the business's stock in a transaction 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 acquisition, the insider directly owned 4,465,014 shares in the company, valued at approximately $55,321,523.46. The trade was a 2.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 688,000 shares of company stock valued at $8,422,830. Corporate insiders own 15.00% of the company's stock.

Institutional Trading of Cybin

Several institutional investors and hedge funds have recently bought and sold shares of HELP. AXQ Capital LP acquired a new position in shares of Cybin during the 2nd quarter worth approximately $75,000. Farther Finance Advisors LLC boosted its stake in Cybin by 927.4% in the third 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. WealthPlan Investment Management LLC bought a new position in shares of Cybin during the 3rd quarter valued at about $1,272,000. ACT Capital Partners L.P. bought a new stake in shares of Cybin during the 3rd quarter worth about $1,659,000. Finally, Pale Fire Capital SE bought a new stake in Cybin during the 2nd quarter worth $1,015,000. 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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