Insider Buying: Cybin (NASDAQ:HELP) CFO Acquires 3,000 Shares of Company Stock

Key Points

• Cybin CFO Greg Cavers purchased 3,000 shares at an average price of $12.91, investing $38,730 and establishing a direct position in the company.
• Cybin shares traded at $11.91, with the stock substantially above its 52-week low of $3.76 but below its high of $15.15. The company reported a quarterly loss of $0.91 per share, missing analysts’ estimate of $0.80.
• Analyst sentiment remains positive, with six analysts rating Cybin a Buy and a consensus price target of $46.33; institutional investors and hedge funds own 17.94% of the stock.

Cybin Inc. (NASDAQ:HELP - Get Free Report) CFO Greg Cavers acquired 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 29th. The stock was acquired at an average price of $12.91 per share, for a total transaction of $38,730.00. Following the completion of the acquisition, the chief financial officer directly owned 3,000 shares of the company's stock, valued at $38,730. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Cybin Price Performance

HELP stock traded down $0.38 during midday trading on Thursday, hitting $11.91. 1,326,987 shares of the company's stock were exchanged, compared to its average volume of 1,653,574. Cybin Inc. has a 1-year low of $3.76 and a 1-year high of $15.15. The business has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $7.53.

Cybin (NASDAQ:HELP - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). As a group, research analysts anticipate that Cybin Inc. will post -2.95 earnings per share for the current year.

Institutional Investors Weigh In On Cybin

An institutional investor recently bought a new stake in Cybin stock. AXQ Capital LP purchased a new position in Cybin Inc. (NASDAQ:HELP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,315 shares of the company's stock, valued at approximately $75,000. 17.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HELP has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Cybin in a report on Friday, September 18th. They issued an "overweight" rating and a $35.00 price objective on the stock. TD Cowen boosted their target price on 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 initiated coverage on Cybin in a research note on Monday, July 27th. They set an "overweight" rating and a $16.00 price target on the stock. Finally, Wall Street Zen upgraded Cybin from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 29th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Cybin has a consensus rating of "Buy" and a consensus price target of $46.33.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin's development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.

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