HC Wainwright Analysts Decrease Earnings Estimates for Cybin

Cybin Inc. (NYSE:CYBN - Free Report) - Investment analysts at HC Wainwright dropped their FY2029 earnings per share estimates for shares of Cybin in a research note issued to investors on Monday, January 27th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings of $8.87 per share for the year, down from their previous forecast of $9.57. HC Wainwright currently has a "Buy" rating and a $190.00 target price on the stock. The consensus estimate for Cybin's current full-year earnings is ($4.83) per share.

Separately, Canaccord Genuity Group reduced their target price on shares of Cybin from $96.00 to $86.00 and set a "buy" rating on the stock in a report on Thursday, November 14th.

Cybin Stock Down 0.7 %

Shares of NYSE CYBN traded down $0.07 during trading on Wednesday, reaching $9.91. The company had a trading volume of 171,025 shares, compared to its average volume of 176,659. The stock has a market capitalization of $199.19 million, a PE ratio of -1.49 and a beta of 0.44. The business's 50-day simple moving average is $9.76. Cybin has a twelve month low of $6.50 and a twelve month high of $19.85.

Institutional Investors Weigh In On Cybin

A hedge fund recently bought a new stake in Cybin stock. Sanctuary Advisors LLC purchased a new stake in Cybin Inc. (NYSE:CYBN - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 131,252 shares of the company's stock, valued at approximately $36,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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.