Knott David M Jr purchased a new stake in Cybin Inc. (NYSE:CYBN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 60,446 shares of the company's stock, valued at approximately $533,000. Knott David M Jr owned approximately 0.30% of Cybin at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CYBN. Diametric Capital LP acquired a new stake in shares of Cybin during the 4th quarter worth approximately $157,000. Essential Planning LLC. purchased a new stake in Cybin in the fourth quarter valued at $138,000. Cowa LLC acquired a new position in shares of Cybin in the 4th quarter valued at $115,000. Fore Capital LLC lifted its stake in shares of Cybin by 70.6% in the 4th quarter. Fore Capital LLC now owns 31,421 shares of the company's stock valued at $277,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Cybin during the 4th quarter worth $46,000. Institutional investors and hedge funds own 17.94% of the company's stock.
Analyst Upgrades and Downgrades
CYBN has been the subject of several research analyst reports. Canaccord Genuity Group lowered their target price on shares of Cybin from $86.00 to $73.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. HC Wainwright lowered their price objective on shares of Cybin from $190.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim began coverage on Cybin in a research report on Thursday, March 13th. They issued a "buy" rating and a $35.00 target price on the stock.
Read Our Latest Stock Analysis on CYBN
Cybin Stock Performance
Shares of CYBN traded down $0.27 during mid-day trading on Friday, hitting $5.69. 324,037 shares of the company's stock were exchanged, compared to its average volume of 222,203. The company has a 50-day moving average of $8.19. Cybin Inc. has a fifty-two week low of $5.50 and a fifty-two week high of $16.55. The company has a market capitalization of $122.20 million, a P/E ratio of -1.30 and a beta of 0.61.
Cybin Profile
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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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