Cybin (NASDAQ:HELP) Shares Up 2.7% - Should You Buy?

Key Points

• Shares rose about 2.7% to $5.29 with intraday volume ~2.44M shares, a ~54% increase versus the average session volume, trading as high as $5.55.
• Wall Street is broadly bullish: multiple firms have initiated or maintained Buy ratings (HC Wainwright raised its target to $95) and the average analyst price target is $58.75.
• Fundamentals remain challenged—Cybin reported missed earnings (EPS -$0.72 vs. -$0.53 estimate), has a market cap of $273.12M, and about 17.94% institutional ownership with Millennium Management significantly increasing its stake.

Cybin Inc. (NASDAQ:HELP - Get Free Report) shares shot up 2.7% during trading on Monday . The company traded as high as $5.55 and last traded at $5.29. 2,442,548 shares traded hands during mid-day trading, an increase of 54% from the average session volume of 1,585,056 shares. The stock had previously closed at $5.15.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HELP. Jefferies Financial Group began coverage on Cybin in a research report on Monday, February 2nd. They set a "buy" rating and a $22.00 target price on the stock. HC Wainwright boosted their target price on Cybin from $55.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, TD Cowen began coverage on Cybin in a research report on Monday, April 13th. They set a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat, Cybin presently has an average rating of "Buy" and an average price target of $58.75.

Cybin Stock Up 2.7%

The firm has a market capitalization of $273.12 million, a PE ratio of -1.25 and a beta of 0.80. The stock's 50-day simple moving average is $5.56.

Cybin (NASDAQ:HELP - Get Free Report) last posted its quarterly earnings results on Friday, February 13th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.19). As a group, equities research analysts expect that Cybin Inc. will post -4.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HELP. Millennium Management LLC raised its position in Cybin by 1,388.5% during the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock valued at $8,414,000 after buying an additional 959,448 shares during the period. Bank of America Corp DE raised its position in Cybin by 66.8% during 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. raised its position in Cybin by 46.7% during the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock valued at $63,000 after buying an additional 2,400 shares during the period. 17.94% of the stock is owned by institutional investors and hedge funds.

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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