Cybin Inc. (NASDAQ:HELP) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts are bullish on Cybin: all five covering firms rate the stock “Buy,” with an average 12-month price target of $48.60. TD Cowen recently raised its target to $62 from $8, while Wells Fargo initiated coverage with a $16 target.
• Cybin shares opened at $12.47, near their 52-week high of $12.72, and have risen above their 50-day and 200-day moving averages. Institutional investors own 17.94% of the company, with Millennium Management increasing its stake by 1,388.5% in the fourth quarter.
• The clinical-stage psychedelic therapeutics company reported a quarterly loss of $0.91 per share, missing the analyst consensus estimate of a $0.80 loss; analysts expect a full-year loss of $3.23 per share.

Shares of Cybin Inc. (NASDAQ:HELP - Get Free Report) have received an average rating of "Buy" from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $48.60.

A number of equities research analysts have recently issued reports on HELP shares. Wells Fargo & Company started coverage on shares of Cybin in a research report on Monday, July 27th. They set an "overweight" rating and a $16.00 price target for the company. 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.

Hedge Funds Weigh In On Cybin

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock worth $8,414,000 after acquiring an additional 959,448 shares during the period. Bank of America Corp DE raised its holdings 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 during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of Cybin by 46.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock valued at $63,000 after acquiring an additional 2,400 shares in the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

Cybin Price Performance

Shares of HELP stock opened at $12.47 on Friday. The business's fifty day moving average price is $7.66 and its 200 day moving average price is $6.20. Cybin has a 1-year low of $3.76 and a 1-year high of $12.72. The firm has a market capitalization of $911.06 million, a PE ratio of -4.13 and a beta of 0.55.

Cybin (NASDAQ:HELP - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.11). Equities research analysts expect that Cybin will post -3.23 earnings per share for the current fiscal year.

About Cybin

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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