PDS Planning Inc Sells 885,540 Shares of Cybin Inc. (NYSE:CYBN)

PDS Planning Inc reduced its stake in shares of Cybin Inc. (NYSE:CYBN - Free Report) by 76.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 267,580 shares of the company's stock after selling 885,540 shares during the period. PDS Planning Inc owned approximately 0.07% of Cybin worth $2,379,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. RA Capital Management L.P. bought a new position in Cybin in the first quarter valued at approximately $24,041,000. Rosalind Advisors Inc. lifted its stake in Cybin by 38.3% in the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company's stock valued at $5,230,000 after buying an additional 5,340,000 shares in the last quarter. Ikarian Capital LLC bought a new position in Cybin in the first quarter valued at approximately $5,770,000. AWM Investment Company Inc. bought a new stake in shares of Cybin in the first quarter worth $930,000. Finally, AdvisorShares Investments LLC lifted its position in shares of Cybin by 13.4% in the second quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company's stock worth $494,000 after purchasing an additional 220,403 shares in the last quarter. Institutional investors own 17.94% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CYBN. Canaccord Genuity Group cut their price objective on shares of Cybin from $114.00 to $96.00 and set a "buy" rating on the stock in a research report on Monday, September 23rd. Cantor Fitzgerald reissued an "overweight" rating on shares of Cybin in a research report on Wednesday, July 31st. Finally, HC Wainwright reissued a "buy" rating and issued a $5.00 price objective on shares of Cybin in a research report on Friday, August 23rd.

Cybin Trading Up 1.3 %

CYBN traded up $0.13 during trading on Monday, reaching $10.12. 60,323 shares of the stock were exchanged, compared to its average volume of 142,638. The company has a market cap of $202.30 million, a price-to-earnings ratio of -1.66 and a beta of 0.38. Cybin Inc. has a twelve month low of $6.50 and a twelve month high of $22.31.

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. As a group, research analysts forecast that Cybin Inc. will post -2.85 earnings per share for the current year.

Cybin Company Profile

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.