Cybin (NASDAQ:HELP) Insider Buys $1,178,000.00 in Stock

Key Points

• Insider buying: Cybin insider Paul Glavine purchased 100,000 shares for $1.178 million at an average price of $11.78, increasing his stake by 2.46% to 4.17 million shares. He also bought 90,000 shares worth $1.04 million on August 31.
• Stock performance: Cybin shares opened at $13.68, near their 52-week high of $14.35, and have risen above their 50-day and 200-day moving averages of $9.70 and $6.81, respectively.
• Analyst outlook and financial results: Analysts give Cybin an average “Buy” rating with a $48.60 price target, although the company recently reported an adjusted loss of $0.91 per share, missing estimates by $0.11.

Cybin Inc. (NASDAQ:HELP - Get Free Report) insider Paul Glavine purchased 100,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was acquired at an average price of $11.78 per share, with a total value of $1,178,000.00. Following the completion of the transaction, the insider owned 4,171,252 shares in the company, valued at approximately $49,137,348.56. This trade represents a 2.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Paul Glavine also recently made the following trade(s):

• On Monday, August 31st, Paul Glavine purchased 90,000 shares of Cybin stock. The shares were acquired at an average cost of $11.59 per share, with a total value of $1,043,100.00.

Cybin Stock Performance

Shares of NASDAQ:HELP opened at $13.68 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of -4.53 and a beta of 0.63. The firm's fifty day moving average is $9.70 and its 200-day moving average is $6.81. Cybin Inc. has a 52 week low of $3.76 and a 52 week 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.11). Sell-side analysts forecast that Cybin Inc. will post -2.95 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Cybin

A number of large investors have recently bought and sold shares of HELP. Osaic Holdings Inc. raised its position in shares of Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock worth $63,000 after acquiring an additional 2,400 shares in the last quarter. AXQ Capital LP bought a new stake in shares of Cybin during the 2nd quarter valued at about $75,000. Bank of America Corp DE grew its stake in Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock worth $247,000 after purchasing an additional 11,790 shares during the period. Pale Fire Capital SE acquired a new stake in Cybin during the second quarter worth approximately $1,015,000. Finally, Millennium Management LLC increased its holdings in Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock worth $8,414,000 after purchasing an additional 959,448 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Cybin Company Profile

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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