Key Points
- Insider purchase: Paul Glavine bought 90,000 Cybin shares at an average price of $11.59, investing approximately $1.04 million. His holdings increased 2.26% to 4.07 million shares.
- Stock performance: Cybin shares opened at $13.68 and were up 10.4%, trading near their 12-month high of $14.35. The company has a market capitalization of approximately $1.03 billion.
- Analyst outlook: Analysts maintain a consensus “Buy” rating with an average price target of $48.60, although Cybin recently reported a quarterly loss of $0.91 per share, below the $0.80 consensus estimate.
Cybin Inc. (NASDAQ:HELP - Get Free Report) insider Paul Glavine acquired 90,000 shares of the business's stock in a transaction dated Monday, August 31st. The stock was purchased at an average price of $11.59 per share, with a total value of $1,043,100.00. Following the completion of the transaction, the insider directly owned 4,071,252 shares of the company's stock, valued at $47,185,810.68. This trade represents a 2.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Cybin Trading Up 10.4%
Shares of NASDAQ:HELP opened at $13.68 on Thursday. The company has a 50 day moving average of $9.70 and a 200 day moving average of $6.81. The stock has a market cap of $1.03 billion, a P/E ratio of -4.53 and a beta of 0.63. Cybin Inc. has a 12 month low of $3.76 and a 12 month high of $14.35.
Cybin (NASDAQ:HELP - Get Free Report) last posted its 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). On average, equities analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on HELP. Wall Street Zen upgraded Cybin from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 29th. Wells Fargo & Company initiated coverage on Cybin in a research report on Monday, July 27th. They set an "overweight" rating and a $16.00 target price for the company. Finally, TD Cowen upped their target price on Cybin from $8.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $48.60.
Check Out Our Latest Research Report on Cybin
Hedge Funds Weigh In On Cybin
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its holdings in shares of Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company's stock worth $63,000 after buying an additional 2,400 shares during the last quarter. AXQ Capital LP bought a new stake in shares of Cybin during the 2nd quarter worth $75,000. Bank of America Corp DE grew its position in Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company's stock worth $247,000 after acquiring an additional 11,790 shares in the last quarter. Pale Fire Capital SE purchased a new position in Cybin in the second quarter worth $1,015,000. Finally, Millennium Management LLC grew its position in Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company's stock worth $8,414,000 after acquiring an additional 959,448 shares in the last quarter. Hedge funds and other institutional investors own 17.94% of the company's stock.
Cybin Company Profile
(
Get Free Report)
Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.
The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.
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