Cybin (NASDAQ:HELP) Shares Down 6.6% – Time to Sell?

by · The Markets Daily

Shares of Cybin Inc. (NASDAQ:HELP – Get Free Report) fell 6.6% on Monday. The company traded as low as $9.86 and last traded at $9.8990. Approximately 261,606 shares traded hands during trading, a decline of 79% from the average session volume of 1,266,690 shares. The stock had previously closed at $10.60.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen increased their price objective on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Barclays assumed coverage on shares of Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 target price on the stock. Wall Street Zen raised shares of Cybin from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 25th. Finally, Wells Fargo & Company increased their price target on shares of Cybin from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Six investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $47.33.

Check Out Our Latest Research Report on Cybin

Cybin Price Performance

The company has a market cap of $720.68 million, a price-to-earnings ratio of -2.99 and a beta of 0.64. The business’s 50-day simple moving average is $11.81 and its 200-day simple moving average is $7.76.

Cybin (NASDAQ:HELP – Get Free Report) last announced its quarterly earnings results 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). As a group, sell-side analysts forecast that Cybin Inc. will post -2.95 EPS for the current year.

Insider Buying and Selling

In related news, insider Eric H. L. So bought 100,000 shares of Cybin stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the purchase, the insider owned 4,465,014 shares in the company, valued at $55,321,523.46. This represents a 2.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Halstead bought 100,000 shares of the stock in a transaction on Monday, September 21st. The shares were bought at an average price of $13.47 per share, for a total transaction of $1,347,000.00. Following the acquisition, the chief executive officer owned 168,568 shares in the company, valued at $2,270,610.96. The trade was a 145.84% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 688,000 shares of company stock valued at $8,422,830. 15.00% of the stock is currently owned by company insiders.

Institutional Trading of Cybin

Institutional investors and hedge funds have recently made changes to their positions in the stock. WealthPlan Investment Management LLC acquired a new stake in shares of Cybin during the third quarter valued at $1,272,000. Farther Finance Advisors LLC increased its position 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 purchasing an additional 20,597 shares in the last quarter. AXQ Capital LP acquired a new position in Cybin in the 2nd quarter valued at about $75,000. Finally, Pale Fire Capital SE acquired a new position in Cybin in the 2nd quarter valued at about $1,015,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Cybin Company Profile

(Get Free Report)

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research programs are designed to address disorders such as major depressive disorder and other conditions where existing treatments may not provide adequate relief.

Cybin’s development platform has included investigational compounds such as CYB003, a deuterated psilocybin analog being studied for depression, and CYB004, an investigational N,N-dimethyltryptamine (DMT) formulation being evaluated for potential use in mental health treatment.

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