Cybin Inc. (NYSE:CYBN - Free Report) - HC Wainwright decreased their FY2029 earnings per share estimates for Cybin in a report released on Monday, January 27th. HC Wainwright analyst P. Trucchio now expects that the company will post earnings of $8.87 per share for the year, down from their prior estimate of $9.57. HC Wainwright has a "Buy" rating and a $190.00 price objective on the stock. The consensus estimate for Cybin's current full-year earnings is ($4.88) per share.
Separately, Canaccord Genuity Group cut their price objective on Cybin from $96.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, November 14th.
Read Our Latest Analysis on CYBN
Cybin Stock Up 1.2 %
Shares of Cybin stock traded up $0.12 on Wednesday, reaching $9.98. The company's stock had a trading volume of 219,530 shares, compared to its average volume of 197,452. The company has a market cap of $199.50 million, a P/E ratio of -1.50 and a beta of 0.44. The company's fifty day moving average price is $9.76. Cybin has a 52 week low of $6.50 and a 52 week high of $19.85.
Institutional Trading of Cybin
A hedge fund recently bought a new stake in Cybin stock. Sanctuary Advisors LLC purchased a new stake in shares of Cybin Inc. (NYSE:CYBN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 131,252 shares of the company's stock, valued at approximately $36,000. Institutional investors and hedge funds own 17.94% of the company's stock.
About Cybin
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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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