Cybin (NASDAQ:HELP) Trading 9.7% Higher - Should You Buy?

Key Points

• Cybin shares rose 9.7% to $13.566, despite trading volume falling 61% below its average. The company has a $1.07 billion market capitalization, while its stock remains unprofitable with a negative P/E ratio.
• Analyst sentiment is broadly bullish: six analysts rate Cybin a Buy, with an average price target of $46.33. Recent targets range from $16 at Wells Fargo to $62 at TD Cowen, although Wall Street Zen maintained a Sell rating.
• Insiders bought 585,000 shares worth $7.04 million over the past quarter, including two 100,000-share purchases. However, Cybin missed its latest quarterly earnings estimate, reporting a loss of $0.91 per share versus the expected $0.80 loss.

Cybin Inc. (NASDAQ:HELP - Get Free Report) shares were up 9.7% on Monday . The company traded as high as $13.38 and last traded at $13.5660. 487,342 shares traded hands during trading, a decline of 61% from the average daily volume of 1,235,494 shares. The stock had previously closed at $12.37.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HELP shares. Wall Street Zen raised shares of Cybin from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 29th. TD Cowen boosted their target price on Cybin from $8.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Wells Fargo & Company initiated coverage on Cybin in a report on Monday, July 27th. They issued an "overweight" rating and a $16.00 price target for the company. Finally, Barclays began coverage on Cybin in a research report on Friday. They set an "overweight" rating and a $35.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $46.33.

Cybin Price Performance

The business's 50 day simple moving average is $10.67 and its 200 day simple moving average is $7.10. The company has a market capitalization of $1.07 billion, a PE ratio of -4.51 and a beta of 0.63.

Cybin (NASDAQ:HELP - Get Free Report) last posted 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). As a group, analysts anticipate that Cybin Inc. will post -2.95 EPS for the current year.

Insider Buying and Selling

In other Cybin news, insider Paul Glavine bought 100,000 shares of Cybin stock in a transaction on Tuesday, September 8th. The shares were bought at an average price of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the transaction, the insider directly owned 4,271,252 shares of the company's stock, valued at $53,262,512.44. This trade represents a 2.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric H. L. So bought 100,000 shares of Cybin stock in a transaction on Tuesday, September 8th. The stock was acquired at an average price of $12.39 per share, for a total transaction of $1,239,000.00. Following the transaction, the insider directly owned 4,465,014 shares of the company's stock, valued at approximately $55,321,523.46. This trade represents a 2.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 585,000 shares of company stock worth $7,037,100 over the last quarter. 15.00% of the stock is currently owned by insiders.

Institutional Trading of Cybin

A hedge fund recently bought a new stake in Cybin stock. Pale Fire Capital SE bought a new stake in Cybin Inc. (NASDAQ:HELP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 153,505 shares of the company's stock, valued at approximately $1,015,000. Pale Fire Capital SE owned about 0.21% of Cybin at the end of the most recent reporting period. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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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