Sphera Funds Management LTD. decreased its holdings in shares of Cybin Inc. (NYSE:CYBN - Free Report) by 42.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 538,111 shares of the company's stock after selling 395,114 shares during the period. Sphera Funds Management LTD. owned approximately 2.66% of Cybin worth $4,746,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in CYBN. Global Retirement Partners LLC acquired a new position in shares of Cybin during the fourth quarter worth about $46,000. Marshall Wace LLP purchased a new stake in Cybin in the 4th quarter valued at approximately $94,000. Cowa LLC acquired a new position in Cybin during the 4th quarter worth approximately $115,000. Essential Planning LLC. purchased a new position in shares of Cybin during the 4th quarter worth approximately $138,000. Finally, Diametric Capital LP purchased a new position in shares of Cybin during the 4th quarter worth approximately $157,000. 17.94% of the stock is owned by institutional investors and hedge funds.
Cybin Stock Performance
Shares of CYBN stock traded up $0.02 during mid-day trading on Wednesday, reaching $7.03. 204,209 shares of the company were exchanged, compared to its average volume of 250,556. The company has a market capitalization of $150.88 million, a P/E ratio of -1.60 and a beta of 0.60. The business's 50 day simple moving average is $6.70 and its 200 day simple moving average is $8.58. Cybin Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $13.88.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CYBN. Guggenheim assumed coverage on Cybin in a report on Thursday, March 13th. They set a "buy" rating and a $35.00 price objective on the stock. Canaccord Genuity Group reduced their price objective on Cybin from $86.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. HC Wainwright dropped their price objective on shares of Cybin from $190.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald raised Cybin to a "strong-buy" rating in a research note on Tuesday, May 13th.
Read Our Latest Stock Analysis on CYBN
Cybin Company Profile
(
Free Report)
Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.
Read More
Before you consider Cybin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cybin wasn't on the list.
While Cybin currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
