Cybin (NYSE:CYBN - Get Free Report) had its target price reduced by stock analysts at Canaccord Genuity Group from $96.00 to $86.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock.
Several other research analysts have also commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Cybin in a research report on Wednesday, July 31st. HC Wainwright reiterated a "buy" rating and issued a $5.00 price target on shares of Cybin in a research report on Friday, August 23rd.
Read Our Latest Analysis on CYBN
Cybin Price Performance
NYSE CYBN traded up $0.50 during trading hours on Thursday, hitting $11.00. The company had a trading volume of 649,025 shares, compared to its average volume of 152,582. The company has a market capitalization of $219.89 million, a PE ratio of -1.81 and a beta of 0.38. Cybin has a 1-year low of $6.50 and a 1-year high of $21.66.
Institutional Investors Weigh In On Cybin
Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Cybin during the second quarter worth about $36,000. PEAK6 Investments LLC bought a new stake in shares of Cybin in the 1st quarter valued at approximately $95,000. AdvisorShares Investments LLC raised its position in shares of Cybin by 13.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company's stock valued at $494,000 after acquiring an additional 220,403 shares in the last quarter. AWM Investment Company Inc. bought a new position in Cybin during the first quarter worth $930,000. Finally, Rosalind Advisors Inc. boosted its holdings in Cybin by 38.3% in the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company's stock worth $5,230,000 after purchasing an additional 5,340,000 shares during the period. Hedge funds and other institutional investors own 17.94% of the company's stock.
Cybin Company Profile
(
Get 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.
Further Reading
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