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

Key Points

• Wall Street Zen upgraded Cybin from “strong sell” to “sell,” while the broader analyst consensus remains “Buy” with an average price target of $48.60.
• Cybin shares fell 8.0% to $12.18, despite trading well above their 12-month low of $3.76; the stock’s 12-month high is $14.35.
• The company reported a quarterly loss of $0.91 per share, missing the $0.80 consensus estimate, and analysts expect a full-year loss of $2.95 per share. Institutional investors own 17.94% of Cybin.

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

Other analysts have also issued research reports about the company. Wells Fargo & Company assumed coverage on Cybin in a research report on Monday, July 27th. They set an "overweight" rating and a $16.00 price objective on the stock. TD Cowen lifted 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. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cybin currently has an average rating of "Buy" and a consensus target price of $48.60.

Cybin Trading Down 8.0%

Cybin stock traded down $1.06 during midday trading on Friday, reaching $12.18. 1,452,450 shares of the stock traded hands, compared to its average volume of 1,941,074. The firm has a market cap of $889.87 million, a PE ratio of -4.03 and a beta of 0.55. The company has a 50-day simple moving average of $8.69 and a two-hundred day simple moving average of $6.48. Cybin has a 12-month low of $3.76 and a 12-month high of $14.35.

Cybin (NASDAQ:HELP - Get Free Report) last issued 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). Equities research analysts anticipate that Cybin will post -2.95 earnings per share for the current year.

Institutional Investors Weigh In On Cybin

Hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its stake in shares of Cybin by 46.7% during the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock worth $63,000 after purchasing an additional 2,400 shares in the last quarter. AXQ Capital LP acquired a new stake in Cybin in the second quarter valued at $75,000. Bank of America Corp DE raised its stake in Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock valued at $247,000 after buying an additional 11,790 shares in the last quarter. Pale Fire Capital SE purchased a new stake in Cybin during the 2nd quarter worth about $1,015,000. Finally, Millennium Management LLC lifted its holdings in Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock worth $8,414,000 after buying an additional 959,448 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.

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