Cybin Inc. (NYSE:CYBN) Stake Lowered by Rosalind Advisors Inc.

Rosalind Advisors Inc. reduced its holdings in Cybin Inc. (NYSE:CYBN - Free Report) by 94.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,075,105 shares of the company's stock after selling 18,224,895 shares during the period. Cybin comprises 6.0% of Rosalind Advisors Inc.'s holdings, making the stock its 6th biggest position. Rosalind Advisors Inc. owned about 0.26% of Cybin worth $9,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CYBN. Sanctuary Advisors LLC purchased a new position in shares of Cybin in the second quarter worth about $36,000. PEAK6 Investments LLC acquired a new stake in shares of Cybin in the 1st quarter valued at $95,000. AdvisorShares Investments LLC lifted its holdings in Cybin by 13.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company's stock worth $494,000 after buying an additional 220,403 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in Cybin during the first quarter worth approximately $930,000. Finally, Ikarian Capital LLC acquired a new position in shares of Cybin in the 1st quarter valued at $5,770,000. 17.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Cybin from $114.00 to $96.00 and set a "buy" rating for the company in a research note on Monday, September 23rd. Cantor Fitzgerald restated an "overweight" rating on shares of Cybin in a report on Wednesday, July 31st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of Cybin in a research note on Friday, August 23rd.

Cybin Stock Performance

Shares of NYSE:CYBN traded down $0.15 during trading on Wednesday, hitting $10.00. The company's stock had a trading volume of 268,348 shares, compared to its average volume of 142,826. Cybin Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $21.66. The stock has a market cap of $199.92 million, a price-to-earnings ratio of -1.64 and a beta of 0.38.

Cybin (NYSE:CYBN - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter. On average, equities research analysts predict that Cybin Inc. will post -2.85 EPS for the current year.

About Cybin

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.