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

Key Points

• Insider Eric So bought 100,000 Cybin shares at an average of $12.39, investing approximately $1.24 million and increasing his holdings to 4.47 million shares.
• Cybin shares recently traded at $13.05, near their 52-week high of $14.35, while the stock’s market capitalization stood at roughly $986 million.
• The company reported a quarterly loss of $0.91 per share, worse than the expected $0.80 loss, although analysts maintain an overall “Buy” rating with an average price target of $48.60.

Cybin Inc. (NASDAQ:HELP - Get Free Report) insider Eric So bought 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average cost of $12.39 per share, with a total value of $1,239,000.00. Following the completion of the acquisition, the insider owned 4,465,014 shares of the company's stock, valued at $55,321,523.46. This represents a 2.29% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cybin Stock Performance

HELP stock traded up $0.21 during trading on Friday, hitting $13.05. 356,146 shares of the company's stock traded hands, compared to its average volume of 1,197,092. The business has a fifty day simple moving average of $9.84 and a 200 day simple moving average of $6.85. Cybin Inc. has a 52 week low of $3.76 and a 52 week high of $14.35. The stock has a market capitalization of $986.41 million, a price-to-earnings ratio of -4.32 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 (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Research analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its position in Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock valued at $8,414,000 after buying an additional 959,448 shares during the last quarter. Pale Fire Capital SE purchased a new stake in Cybin in the 2nd quarter valued at about $1,015,000. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 11,790 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Cybin during the second quarter worth approximately $75,000. Finally, Osaic Holdings Inc. raised its stake in shares of Cybin by 46.7% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

Key Headlines Impacting Cybin

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider buying is the primary near-term catalyst. Paul Glavine purchased 100,000 shares for approximately $1.18 million at an average price of $11.78, increasing his holdings by 2.46% to more than 4.17 million shares. He also bought 90,000 shares in late August. Cybin insider purchase report
• Positive Sentiment: Insider Eric H. L. So acquired 100,000 shares for approximately $1.21 million at $12.09 per share, following a 95,000-share purchase earlier in September. The repeated open-market purchases by two insiders may reinforce investor confidence in Cybin’s outlook. SEC insider purchase filing
• Positive Sentiment: Helus Pharma, Cybin’s commercial name, plans to participate in the Morgan Stanley Global Healthcare Conference on September 16, where CEO Michael Halstead is scheduled for a fireside chat. The event could increase visibility into the company’s psychedelic-based mental-health pipeline and upcoming clinical milestones. Morgan Stanley conference announcement
• Neutral Sentiment: The latest short-interest report lists zero shares sold short and a zero-day days-to-cover ratio, but also contains an invalid “NaN” percentage change. As a result, it provides little dependable information about current short-selling pressure.
• Negative Sentiment: Cybin continues to operate at a loss. Its latest quarterly loss of $0.91 per share was wider than the expected $0.80 loss, and analysts forecast a full-year loss of approximately $2.95 per share. The stock’s strong recent advance and lack of a new trial result or regulatory approval could also leave it vulnerable to profit-taking.

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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