Cybin (NYSE:CYBN - Get Free Report) had its target price reduced by research analysts at HC Wainwright from $190.00 to $150.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock.
Separately, Canaccord Genuity Group cut their price target on shares of Cybin from $86.00 to $73.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th.
Get Our Latest Stock Report on Cybin
Cybin Stock Up 0.6 %
CYBN traded up $0.06 on Thursday, reaching $9.53. The company's stock had a trading volume of 806,342 shares, compared to its average volume of 264,085. Cybin has a fifty-two week low of $6.50 and a fifty-two week high of $19.85. The business has a 50 day simple moving average of $9.57. The company has a market capitalization of $192.98 million, a P/E ratio of -1.43 and a beta of 0.46.
Institutional Investors Weigh In On Cybin
Large investors have recently modified their holdings of the company. Acorn Capital Advisors LLC acquired a new position in shares of Cybin in the 4th quarter valued at $6,477,000. Sanctuary Advisors LLC acquired a new position in Cybin in the second quarter valued at $36,000. Knott David M Jr acquired a new position in Cybin in the fourth quarter valued at $533,000. Diametric Capital LP purchased a new stake in shares of Cybin in the fourth quarter valued at about $157,000. Finally, Essential Planning LLC. acquired a new stake in shares of Cybin during the fourth quarter worth about $138,000. 17.94% of the stock is owned by institutional investors and hedge funds.
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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