Cybin (NASDAQ:HELP) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cybin from “strong sell” to “sell,” while the broader analyst consensus remains “Buy,” with six analysts issuing buy ratings and an average price target of $46.33.
• Cybin shares opened at $10.55 after falling 4.5%; the company recently reported a quarterly loss of $0.91 per share, missing the consensus estimate of a $0.80 loss.
• Insiders purchased 688,000 shares worth approximately $8.4 million over the past three months, while institutional and hedge-fund investors own 17.94% of the stock.

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

A number of other research analysts have also recently weighed in on HELP. Wells Fargo & Company assumed coverage on shares of Cybin in a report on Monday, July 27th. They issued an "overweight" rating and a $16.00 price objective for the company. Barclays started coverage on shares of Cybin in a report on Friday, September 18th. They set an "overweight" rating and a $35.00 target price on the stock. Finally, TD Cowen increased their target price on shares of Cybin from $8.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $46.33.

Cybin Stock Down 4.5%

NASDAQ HELP opened at $10.55 on Friday. The stock has a 50-day moving average of $12.13 and a two-hundred day moving average of $7.99. Cybin has a 1-year low of $3.76 and a 1-year high of $15.15.

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). On average, sell-side analysts forecast that Cybin will post -2.95 EPS for the current year.

Insider Activity

In other news, insider Paul Glavine bought 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the purchase, the insider owned 4,271,252 shares of the company's stock, valued at approximately $53,262,512.44. This represents a 2.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric H. L. So bought 100,000 shares of Cybin stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average cost of $12.39 per share, for a total transaction of $1,239,000.00. Following the acquisition, the insider owned 4,465,014 shares of the company's stock, valued at $55,321,523.46. This represents a 2.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 688,000 shares of company stock valued at $8,422,830 over the last three months. 15.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cybin

A number of large investors have recently modified their holdings of HELP. WealthPlan Investment Management LLC acquired a new stake in shares of Cybin in the 3rd quarter valued at $1,272,000. Pale Fire Capital SE acquired a new position in shares of Cybin during the second quarter worth $1,015,000. Farther Finance Advisors LLC grew its stake 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 purchasing an additional 20,597 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Cybin in the second quarter valued at $75,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

About Cybin

Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.

Cybin's development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.

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