DCF Advisers LLC Purchases New Shares in Cybin Inc. (NYSE:CYBN)

Key Points

• DCF Advisers LLC has acquired a new stake in Cybin Inc. by purchasing 202,000 shares, valued at approximately $1.281 million, as reported in their recent SEC filing.
• Institutional investors combined own 17.94% of Cybin's stock, demonstrating growing institutional interest in the company.
• Recent analyst reports have varied, with Canaccord Genuity reducing their price target to $70.00 while maintaining a "buy" rating, illustrating differing outlooks within the analyst community.

DCF Advisers LLC purchased a new position in Cybin Inc. (NYSE:CYBN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 202,000 shares of the company's stock, valued at approximately $1,281,000. DCF Advisers LLC owned about 0.94% of Cybin as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Cybin in the 4th quarter valued at $94,000. Boothbay Fund Management LLC grew its position in shares of Cybin by 9.2% during the fourth quarter. Boothbay Fund Management LLC now owns 106,665 shares of the company's stock worth $941,000 after buying an additional 9,029 shares in the last quarter. AdvisorShares Investments LLC boosted its holdings in Cybin by 3.2% in the fourth quarter. AdvisorShares Investments LLC now owns 50,651 shares of the company's stock valued at $447,000 after purchasing an additional 1,567 shares in the last quarter. Acorn Capital Advisors LLC purchased a new stake in shares of Cybin during the fourth quarter worth approximately $6,477,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Cybin in the 4th quarter worth about $7,938,000. Institutional investors own 17.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group cut their target price on Cybin from $73.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, July 8th. Cantor Fitzgerald upgraded Cybin to a "strong-buy" rating in a report on Tuesday, May 13th.

Cybin Trading Down 1.8%

Shares of NYSE:CYBN traded down $0.14 during mid-day trading on Tuesday, reaching $7.55. The company had a trading volume of 54,691 shares, compared to its average volume of 314,580. The firm has a market cap of $177.99 million, a price-to-earnings ratio of -1.72 and a beta of 0.69. The company's 50-day moving average price is $8.02 and its 200-day moving average price is $7.80. Cybin Inc. has a one year low of $4.81 and a one year high of $13.88.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.