Shares of Cybin Inc. (NYSE:CYBN - Get Free Report) traded up 2.9% on Thursday . The company traded as high as $7.26 and last traded at $7.12. 189,129 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 236,112 shares. The stock had previously closed at $6.92.
Analysts Set New Price Targets
Several analysts have issued reports on CYBN shares. Guggenheim started coverage on Cybin in a research note on Thursday, March 13th. They issued a "buy" rating and a $35.00 target price on the stock. HC Wainwright decreased their price objective on Cybin from $190.00 to $150.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Canaccord Genuity Group dropped their target price on shares of Cybin from $86.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, February 12th.
View Our Latest Stock Report on Cybin
Cybin Trading Down 1.3 %
The stock has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $8.99. The firm has a market cap of $145.64 million, a PE ratio of -1.56 and a beta of 0.61.
Hedge Funds Weigh In On Cybin
Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Cybin in the fourth quarter worth about $46,000. Marshall Wace LLP acquired a new stake in shares of Cybin in the fourth quarter valued at about $94,000. Cowa LLC acquired a new stake in shares of Cybin in the 4th quarter worth $115,000. Essential Planning LLC. purchased a new position in shares of Cybin during the 4th quarter worth approximately $138,000. Finally, Diametric Capital LP purchased a new stake in shares of Cybin during the fourth quarter worth $157,000. Hedge funds and other institutional investors own 17.94% of the company's stock.
About Cybin
(
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.
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