Sphera Funds Management LTD. reduced its stake in Cybin Inc. (NYSE:CYBN - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 538,111 shares of the company's stock after selling 395,114 shares during the period. Sphera Funds Management LTD. owned 2.66% of Cybin worth $4,746,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CYBN. Global Retirement Partners LLC bought a new position in Cybin in the 4th quarter worth approximately $46,000. Cowa LLC bought a new position in Cybin in the 4th quarter worth approximately $115,000. Essential Planning LLC. bought a new position in Cybin in the 4th quarter worth approximately $138,000. Fore Capital LLC grew its holdings in Cybin by 70.6% in the 4th quarter. Fore Capital LLC now owns 31,421 shares of the company's stock worth $277,000 after buying an additional 13,000 shares in the last quarter. Finally, Diametric Capital LP bought a new position in Cybin in the 4th quarter worth approximately $157,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CYBN. HC Wainwright decreased their price target on Cybin from $190.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Guggenheim began coverage on Cybin in a research note on Thursday, March 13th. They set a "buy" rating and a $35.00 price target for the company. Canaccord Genuity Group decreased their price target on Cybin from $86.00 to $73.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald raised Cybin to a "strong-buy" rating in a research note on Tuesday, May 13th.
View Our Latest Report on CYBN
Cybin Price Performance
Shares of NYSE:CYBN traded up $0.78 on Monday, reaching $7.50. 788,076 shares of the company traded hands, compared to its average volume of 245,655. The company's 50 day moving average is $6.71 and its 200-day moving average is $8.60. The stock has a market capitalization of $161.08 million, a PE ratio of -1.71 and a beta of 0.60. Cybin Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $13.88.
About Cybin
(
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.
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