Cybin (NASDAQ:HELP) Insider Eric So Buys 95,000 Shares

Key Points

• Cybin insider Eric So purchased 95,000 shares at an average price of $11.80, investing approximately $1.12 million and increasing his ownership to 4.27 million shares.
• Cybin shares rose 10.4% to $13.68, near their 12-month high of $14.35. The company has a market capitalization of roughly $1.03 billion.
• The company missed quarterly earnings expectations, reporting a loss of $0.91 per share versus the expected $0.80 loss, while analysts maintained a consensus “Buy” rating with an average price target of $48.60.

Cybin Inc. (NASDAQ:HELP - Get Free Report) insider Eric So purchased 95,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $11.80 per share, for a total transaction of $1,121,000.00. Following the acquisition, the insider owned 4,265,014 shares of the company's stock, valued at $50,327,165.20. The trade was a 2.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cybin Stock Up 10.4%

HELP stock traded up $1.29 during midday trading on Wednesday, reaching $13.68. The stock had a trading volume of 1,719,658 shares, compared to its average volume of 1,198,978. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -4.53 and a beta of 0.63. Cybin Inc. has a twelve month low of $3.76 and a twelve month high of $14.35. The business has a fifty day simple moving average of $9.56 and a two-hundred day simple moving average of $6.76.

Cybin (NASDAQ:HELP - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.11). On average, equities analysts predict that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Institutional Trading of Cybin

A number of hedge funds have recently modified their holdings of HELP. Osaic Holdings Inc. grew its holdings 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 purchasing an additional 2,400 shares during the period. AXQ Capital LP bought a new stake in Cybin in the second quarter valued at approximately $75,000. Bank of America Corp DE raised its holdings in Cybin by 66.8% in 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 in the second quarter worth $1,015,000. Finally, Millennium Management LLC boosted its position in shares of Cybin by 1,388.5% during 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.

Wall Street Analyst Weigh In

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

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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