Eric So Buys 100,000 Shares of Cybin (NASDAQ:HELP) Stock

Key Points

• Cybin insider Eric So purchased 100,000 shares at an average price of $12.09, investing approximately $1.21 million and increasing his position by 2.34% to 4.37 million shares.
• Cybin shares opened at $13.68, near their 52-week high of $14.35, with the stock trading above its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.91 per share, missing analyst expectations of a $0.80 loss.
• Analyst sentiment remains positive, with five Buy ratings and a consensus target price of $48.60; TD Cowen raised its price target to $62, while Wells Fargo initiated coverage with an Overweight rating and a $16 target.

Cybin Inc. (NASDAQ:HELP - Get Free Report) insider Eric So bought 100,000 shares of the business's stock in a transaction dated Friday, September 4th. The stock was bought at an average cost of $12.09 per share, for a total transaction of $1,209,000.00. Following the completion of the purchase, the insider owned 4,365,014 shares of the company's stock, valued at approximately $52,773,019.26. The trade was a 2.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Cybin Stock Performance

Shares of NASDAQ HELP opened at $13.68 on Thursday. The firm's 50 day moving average price is $9.70 and its 200-day moving average price is $6.81. Cybin Inc. has a 52-week low of $3.76 and a 52-week high of $14.35. The company has a market cap of $1.03 billion, a PE ratio of -4.53 and a beta of 0.63.

Cybin (NASDAQ:HELP - Get Free Report) last announced 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). On average, analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Institutional Trading of Cybin

Several hedge funds and other institutional investors have recently bought and sold shares of HELP. AXQ Capital LP purchased a new stake in shares of Cybin in the second quarter valued at $75,000. Pale Fire Capital SE bought a new position in Cybin in the second quarter worth approximately $1,015,000. Millennium Management LLC raised its position in shares of Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock worth $8,414,000 after acquiring an additional 959,448 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock worth $63,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock valued at $247,000 after acquiring an additional 11,790 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

Analyst Upgrades and Downgrades

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