Cybin (NASDAQ:HELP) Stock Falls 6.4% - Should You Sell?

Key Points

• Cybin shares fell 6.4% to about $10.69 in Tuesday trading, on volume roughly 85% below the average session volume.
• Analyst sentiment remains broadly positive, with six Buy ratings and a consensus target of $46.33, although ratings range from strong sell to buy and the company recently missed quarterly EPS expectations.
• Company insiders have been buying shares, including the CEO’s $1.35 million purchase and $8.42 million of insider purchases over the past 90 days, while Cybin continues developing psychedelic-based treatments for mental health conditions.

Cybin Inc. (NASDAQ:HELP - Get Free Report)'s share price fell 6.4% during trading on Tuesday. The company traded as low as $11.04 and last traded at $10.6940. Approximately 184,840 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,247,016 shares. The stock had previously closed at $11.42.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays initiated coverage on shares of Cybin in a research report on Friday, September 18th. They set an "overweight" rating and a $35.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Cybin in a research note on Monday, July 27th. They issued an "overweight" rating and a $16.00 price objective for the company. Wall Street Zen downgraded shares of Cybin from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, TD Cowen upped their target price on shares of Cybin from $8.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Cybin presently has a consensus rating of "Buy" and a consensus price target of $46.33.

Cybin Price Performance

The firm's 50-day moving average price is $11.83 and its 200 day moving average price is $7.62. The firm has a market capitalization of $868.55 million, a price-to-earnings ratio of -3.66 and a beta of 0.53.

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

Insider Buying and Selling

In related news, CFO Greg Cavers purchased 3,000 shares of the business's stock in a transaction dated Tuesday, September 29th. The stock was bought at an average cost of $12.91 per share, with a total value of $38,730.00. Following the completion of the acquisition, the chief financial officer directly owned 3,000 shares in the company, valued at $38,730. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Halstead acquired 100,000 shares of Cybin stock in a transaction dated Monday, September 21st. The stock was bought at an average price of $13.47 per share, for a total transaction of $1,347,000.00. Following the completion of the transaction, the chief executive officer directly owned 168,568 shares of the company's stock, valued at approximately $2,270,610.96. This represents a 145.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 688,000 shares of company stock valued at $8,422,830. 15.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Cybin

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

Cybin Company Profile

Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.

Cybin's development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.

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