Shares of Cybin Inc. (NYSE:CYBN - Get Free Report) shot up 9.7% during mid-day trading on Friday . The company traded as high as $11.46 and last traded at $11.46. 157,652 shares were traded during mid-day trading, an increase of 9% from the average session volume of 144,094 shares. The stock had previously closed at $10.45.
Analyst Ratings Changes
A number of brokerages have issued reports on CYBN. HC Wainwright reiterated a "buy" rating and issued a $5.00 price target on shares of Cybin in a research note on Friday, August 23rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Cybin in a research note on Wednesday, July 31st. Finally, Canaccord Genuity Group cut their price target on Cybin from $114.00 to $96.00 and set a "buy" rating for the company in a research note on Monday, September 23rd.
View Our Latest Stock Report on Cybin
Cybin Stock Up 9.2 %
The company has a market capitalization of $4.69 billion, a PE ratio of -57.08 and a beta of 0.41.
Cybin (NYSE:CYBN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter. Analysts expect that Cybin Inc. will post -2.85 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in shares of Cybin in the 2nd quarter valued at about $36,000. PEAK6 Investments LLC bought a new position in shares of Cybin in the 1st quarter valued at about $95,000. AdvisorShares Investments LLC lifted its holdings in shares of Cybin by 13.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company's stock valued at $494,000 after acquiring an additional 220,403 shares during the last quarter. AWM Investment Company Inc. bought a new position in shares of Cybin in the 1st quarter valued at about $930,000. Finally, Rosalind Advisors Inc. lifted its holdings in shares of Cybin by 38.3% in the 2nd quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company's stock valued at $5,230,000 after acquiring an additional 5,340,000 shares during the last quarter. Institutional investors own 17.94% of the company's stock.
Cybin Company Profile
(
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.
Featured Articles
Before you consider Cybin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cybin wasn't on the list.
While Cybin currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
