Cybin (NASDAQ:HELP) Stock Price Down 4.8% - Should You Sell?

Key Points

• Cybin shares fell 4.8% to $10.50, with trading volume 149% above average. The stock remains below its 50-day moving average of $12.13 but above its 200-day average of $7.85.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy, with a consensus target price of $46.33, although the company recently missed quarterly EPS estimates and is expected to remain unprofitable.
• Insiders bought heavily, acquiring 688,000 shares worth $8.4 million over the past 90 days; insiders own 15% of the company. Cybin is a clinical-stage biotechnology firm developing psychedelic-based treatments for depression and anxiety.

Shares of Cybin Inc. (NASDAQ:HELP - Get Free Report) traded down 4.8% on Tuesday. The stock traded as low as $9.97 and last traded at $10.50. 3,163,543 shares traded hands during trading, an increase of 149% from the average daily volume of 1,269,110 shares. The stock had previously closed at $11.03.

Analyst Ratings Changes

HELP has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Cybin in a report on Monday, July 27th. They issued an "overweight" rating and a $16.00 price objective for the company. TD Cowen boosted their target price on shares of Cybin from $8.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Barclays started coverage on shares of Cybin in a research note on Friday, September 18th. They issued an "overweight" rating and a $35.00 price target for the company. Finally, Wall Street Zen downgraded shares of Cybin from a "sell" rating to a "strong sell" rating in a report on Saturday, October 3rd. Six investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $46.33.

Cybin Trading Down 4.8%

The business has a fifty day moving average price of $12.13 and a two-hundred day moving average price of $7.85. The firm has a market capitalization of $835.70 million, a PE ratio of -3.48 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, equities analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Insider Activity at Cybin

In related news, CFO Greg Cavers acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was purchased at an average price of $12.91 per share, with a total value of $38,730.00. Following the transaction, the chief financial officer owned 3,000 shares of the company's stock, valued at approximately $38,730. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric H. L. So bought 100,000 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the acquisition, the insider directly owned 4,465,014 shares in the company, valued at $55,321,523.46. The trade was a 2.29% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 688,000 shares of company stock valued at $8,422,830 over the last 90 days. Insiders own 15.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HELP. Pale Fire Capital SE acquired a new stake in shares of Cybin in the second quarter valued at $1,015,000. Farther Finance Advisors LLC lifted its stake in Cybin by 927.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company's stock worth $280,000 after acquiring an additional 20,597 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in Cybin during the 2nd quarter worth about $75,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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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