HC Wainwright Has Pessimistic View of Cybin FY2028 Earnings

Key Points

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Cybin Inc. (NYSE:CYBN - Free Report) - Stock analysts at HC Wainwright reduced their FY2028 earnings per share estimates for Cybin in a report issued on Monday, August 18th. HC Wainwright analyst P. Trucchio now expects that the company will post earnings of $1.81 per share for the year, down from their prior estimate of $1.88. The consensus estimate for Cybin's current full-year earnings is ($4.76) per share.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group decreased their target price on Cybin from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Cantor Fitzgerald upgraded Cybin to a "strong-buy" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $85.00.

Cybin Stock Performance

NYSE:CYBN traded up $0.23 on Tuesday, reaching $7.15. The company's stock had a trading volume of 592,928 shares, compared to its average volume of 320,405. Cybin has a 1-year low of $4.81 and a 1-year high of $13.88. The firm has a market cap of $168.67 million, a PE ratio of -1.63 and a beta of 0.68. The business's 50-day moving average price is $7.68 and its two-hundred day moving average price is $7.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CYBN. National Bank of Canada FI increased its holdings in Cybin by 3,546.5% in the first quarter. National Bank of Canada FI now owns 5,251 shares of the company's stock valued at $33,000 after purchasing an additional 5,107 shares during the period. Marshall Wace LLP acquired a new stake in Cybin during the 4th quarter worth about $94,000. Cowa LLC boosted its position in shares of Cybin by 12.8% during the 2nd quarter. Cowa LLC now owns 13,200 shares of the company's stock worth $111,000 after purchasing an additional 1,500 shares in the last quarter. PEAK6 LLC bought a new position in shares of Cybin during the 1st quarter worth about $167,000. Finally, Bank of America Corp DE boosted its position in shares of Cybin by 66.8% during the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock worth $247,000 after purchasing an additional 11,790 shares in the last quarter. Institutional investors and hedge funds own 17.94% of the company's stock.

Cybin Company Profile

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.