Guggenheim initiated coverage on shares of Cybin (NYSE:CYBN - Free Report) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $35.00 price objective on the stock.
A number of other equities analysts have also issued reports on the stock. HC Wainwright dropped their target price on shares of Cybin from $190.00 to $150.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group dropped their target price on shares of Cybin from $86.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th.
View Our Latest Report on Cybin
Cybin Stock Up 1.1 %
CYBN stock traded up $0.08 on Thursday, reaching $7.65. 130,510 shares of the company were exchanged, compared to its average volume of 220,534. Cybin has a 12 month low of $6.50 and a 12 month high of $17.86. The company has a fifty day simple moving average of $8.98. The stock has a market capitalization of $164.30 million, a price-to-earnings ratio of -1.75 and a beta of 0.50.
Institutional Investors Weigh In On Cybin
Several institutional investors and hedge funds have recently bought and sold shares of CYBN. Global Retirement Partners LLC acquired a new stake in shares of Cybin in the 4th quarter valued at $46,000. Marshall Wace LLP acquired a new stake in shares of Cybin in the 4th quarter valued at $94,000. Cowa LLC acquired a new stake in shares of Cybin in the 4th quarter valued at $115,000. Essential Planning LLC. acquired a new stake in shares of Cybin in the 4th quarter valued at $138,000. Finally, Diametric Capital LP acquired a new stake in shares of Cybin in the 4th quarter valued at $157,000. Institutional investors own 17.94% of the company's stock.
Cybin Company Profile
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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.
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