Cybin Inc. (NASDAQ:HELP) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Analysts remain bullish on Cybin: Five brokerages rate the stock “Buy,” with an average 12-month price target of $48.60. Recent targets varied widely, including Wells Fargo’s $16 and TD Cowen’s sharply increased $62 target.
• Cybin shares opened at $13.61, near their 52-week high of $14.35, while the company reported a quarterly loss of $0.91 per share that missed consensus estimates of $0.80.
• Insiders have been buying: Executives purchased 585,000 shares worth approximately $7.0 million over the past 90 days, while institutional investors and hedge funds own 17.94% of the stock.

Cybin Inc. (NASDAQ:HELP - Get Free Report) has earned an average rating of "Buy" from the five brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.60.

Several research firms recently commented on HELP. Wells Fargo & Company assumed coverage on shares of Cybin in a research note on Monday, July 27th. They set an "overweight" rating and a $16.00 price objective for the company. Wall Street Zen raised Cybin from a "strong sell" rating to a "sell" rating in a report on Saturday, August 29th. Finally, TD Cowen upped their price target on shares of Cybin from $8.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 20th.

Cybin Stock Performance

NASDAQ HELP opened at $13.61 on Tuesday. The company has a market cap of $1.03 billion, a PE ratio of -4.51 and a beta of 0.63. The firm's 50 day moving average price is $10.12 and its 200-day moving average price is $6.94. Cybin has a 52-week low of $3.76 and a 52-week high of $14.35.

Cybin (NASDAQ:HELP - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.11). On average, analysts forecast that Cybin will post -2.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Cybin

In other news, insider Paul Glavine acquired 100,000 shares of the business's stock in a transaction on Tuesday, September 8th. The stock was bought at an average price of $12.47 per share, with a total value of $1,247,000.00. Following the completion of the acquisition, 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 document filed with the SEC, which is accessible through the SEC website. Also, 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 acquired at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the purchase, the insider owned 4,465,014 shares in the company, valued at $55,321,523.46. This represents a 2.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 585,000 shares of company stock worth $7,037,100. 15.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cybin

An institutional investor recently bought a new position in Cybin stock. Pale Fire Capital SE acquired a new stake in Cybin Inc. (NASDAQ:HELP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 153,505 shares of the company's stock, valued at approximately $1,015,000. Pale Fire Capital SE owned about 0.21% of Cybin as of its most recent filing with the SEC. 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 developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin's development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.

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