Paul Glavine Buys 90,000 Shares of Cybin (NASDAQ:HELP) Stock

Key Points

• Cybin insider Paul Glavine purchased 90,000 shares at an average price of $11.59, investing approximately $1.04 million and increasing his ownership by 2.26% to 4.07 million shares.
• Cybin shares rose to $13.52, near their 12-month high of $14.35, while the company reported a quarterly EPS loss of $0.91 that missed analyst estimates of a $0.80 loss.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $48.60; institutional investors own approximately 17.94% of the company.

Cybin Inc. (NASDAQ:HELP - Get Free Report) insider Paul Glavine bought 90,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $11.59 per share, for a total transaction of $1,043,100.00. Following the acquisition, the insider directly owned 4,071,252 shares in the company, valued at $47,185,810.68. The trade was a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Cybin Price Performance

Shares of NASDAQ HELP traded up $1.12 during midday trading on Wednesday, reaching $13.52. The company's stock had a trading volume of 810,744 shares, compared to its average volume of 1,193,050. The firm has a 50 day moving average price of $9.56 and a 200-day moving average price of $6.76. Cybin Inc. has a 12-month low of $3.76 and a 12-month high of $14.35. The stock has a market capitalization of $1.02 billion, a P/E ratio of -4.46 and a beta of 0.63.

Cybin (NASDAQ:HELP - Get Free Report) last posted its quarterly earnings data 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 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on HELP. TD Cowen increased their target price 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. Wall Street Zen raised shares of Cybin from a "strong sell" rating to a "sell" rating in a report on Saturday, August 29th. Finally, Wells Fargo & Company began coverage on Cybin in a research report on Monday, July 27th. They issued an "overweight" rating and a $16.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Cybin presently has a consensus rating of "Buy" and an average target price of $48.60.

Hedge Funds Weigh In On Cybin

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AXQ Capital LP purchased a new stake in shares of Cybin during the 2nd quarter valued at $75,000. Pale Fire Capital SE bought a new stake in shares of Cybin in the 2nd quarter worth approximately $1,015,000. Millennium Management LLC boosted its stake 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 valued at $8,414,000 after purchasing an additional 959,448 shares in the last quarter. Osaic Holdings Inc. boosted 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. Finally, Bank of America Corp DE grew its holdings in shares of Cybin by 66.8% during the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock valued at $247,000 after purchasing an additional 11,790 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.

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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