Pale Fire Capital SE Buys Shares of 153,505 Cybin Inc. $HELP

Key Points

• Pale Fire Capital SE initiated a Cybin position by purchasing 153,505 shares valued at approximately $1.015 million, representing about 0.21% of the company. Institutional investors collectively own 17.94% of Cybin.
• Cybin shares rose 3.0% to $11.95, with the stock trading well above its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.91 per share, missing the $0.80 analyst consensus.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $48.60; recent targets include $62 from TD Cowen and $16 from Wells Fargo.

Pale Fire Capital SE purchased a new position in shares of Cybin Inc. (NASDAQ:HELP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 153,505 shares of the company's stock, valued at approximately $1,015,000. Pale Fire Capital SE owned approximately 0.21% of Cybin as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Osaic Holdings Inc. boosted its stake in shares of 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 acquiring an additional 2,400 shares during the last quarter. Bank of America Corp DE raised its stake in Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock valued at $247,000 after purchasing an additional 11,790 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock valued at $8,414,000 after purchasing an additional 959,448 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Cybin Trading Up 3.0%

Shares of NASDAQ:HELP opened at $11.95 on Thursday. The firm has a market cap of $873.07 million, a price-to-earnings ratio of -3.96 and a beta of 0.63. The stock's 50-day moving average price is $9.10 and its two-hundred day moving average price is $6.60. Cybin Inc. has a 12-month low of $3.76 and a 12-month high of $14.35.

Cybin (NASDAQ:HELP - Get Free Report) last posted 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). As a group, research analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HELP. TD Cowen lifted their price target on shares of Cybin from $8.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Wall Street Zen upgraded shares of Cybin from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 29th. Finally, Wells Fargo & Company assumed coverage on shares of Cybin in a research note on Monday, July 27th. They issued an "overweight" rating and a $16.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $48.60.

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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