Point72 Asset Management L.P. acquired a new position in shares of Cybin Inc. (NYSE:CYBN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 899,999 shares of the company's stock, valued at approximately $7,938,000. Point72 Asset Management L.P. owned about 4.44% of Cybin as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in shares of Cybin in the 4th quarter worth $46,000. Cowa LLC purchased a new position in shares of Cybin in the 4th quarter worth $115,000. Essential Planning LLC. purchased a new position in shares of Cybin in the 4th quarter worth $138,000. Fore Capital LLC raised its position in shares of Cybin by 70.6% in the 4th quarter. Fore Capital LLC now owns 31,421 shares of the company's stock worth $277,000 after buying an additional 13,000 shares during the period. Finally, Diametric Capital LP purchased a new position in shares of Cybin in the 4th quarter worth $157,000. Institutional investors and hedge funds own 17.94% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. HC Wainwright cut their target price on Cybin from $190.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Guggenheim started coverage on Cybin in a research report on Thursday, March 13th. They issued a "buy" rating and a $35.00 price objective on the stock. Cantor Fitzgerald raised Cybin to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group dropped their target price on Cybin from $86.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th.
Read Our Latest Research Report on CYBN
Cybin Stock Performance
Shares of NYSE CYBN traded up $0.01 during midday trading on Wednesday, reaching $7.02. 302,076 shares of the company's stock were exchanged, compared to its average volume of 251,768. Cybin Inc. has a 52-week low of $4.81 and a 52-week high of $13.88. The stock has a market capitalization of $150.77 million, a PE ratio of -1.60 and a beta of 0.60. The business's fifty day moving average price is $6.70 and its two-hundred day moving average price is $8.58.
About Cybin
(
Free Report)
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.
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