Michael Halstead Purchases 100,000 Shares of Cybin (NASDAQ:HELP) Stock

Key Points

• Cybin CEO Michael Halstead bought 100,000 shares at an average price of $13.47, investing $1.347 million and increasing his ownership by 145.84% to 168,568 shares.
• Cybin shares rose 10.4% to $13.66, with trading volume more than twice the average; the stock has climbed substantially from its one-year low of $3.76.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $46.33 price target, although the company recently missed quarterly earnings expectations and remains unprofitable.

Cybin Inc. (NASDAQ:HELP - Get Free Report) CEO Michael Halstead acquired 100,000 shares of the business's stock in a transaction dated Monday, September 21st. The stock was purchased at an average cost of $13.47 per share, with a total value of $1,347,000.00. Following the transaction, the chief executive officer owned 168,568 shares of the company's stock, valued at approximately $2,270,610.96. The trade was a 145.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cybin Stock Up 10.4%

Shares of HELP traded up $1.29 on Monday, hitting $13.66. 2,863,175 shares of the stock traded hands, compared to its average volume of 1,248,638. Cybin Inc. has a 1 year low of $3.76 and a 1 year high of $15.15. The stock's 50 day moving average is $10.67 and its two-hundred day moving average is $7.10. The firm has a market capitalization of $1.08 billion, a P/E ratio of -4.52 and a beta of 0.63.

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

Analyst Upgrades and Downgrades

HELP has been the topic of several recent analyst reports. TD Cowen increased their target price on Cybin from $8.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Barclays initiated coverage on Cybin in a report on Friday. They issued an "overweight" rating and a $35.00 price target for the company. Wells Fargo & Company started coverage on shares of Cybin in a research note on Monday, July 27th. They set an "overweight" rating and a $16.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Cybin from a "strong sell" rating to a "sell" rating in a report on Saturday, August 29th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $46.33.

Institutional Trading of Cybin

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

Cybin Company Profile

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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