Cybin Inc. (NYSE:CYBN - Get Free Report) saw unusually-high trading volume on Monday . Approximately 81,682 shares traded hands during mid-day trading, a decline of 39% from the previous session's volume of 134,133 shares.The stock last traded at $9.37 and had previously closed at $9.18.
Analysts Set New Price Targets
Several equities analysts have issued reports on CYBN shares. Cantor Fitzgerald restated an "overweight" rating on shares of Cybin in a research note on Wednesday, July 31st. HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Cybin in a research report on Friday, August 23rd. Finally, Canaccord Genuity Group decreased their target price on shares of Cybin from $114.00 to $96.00 and set a "buy" rating for the company in a research note on Monday.
Get Our Latest Report on Cybin
Cybin Price Performance
The stock has a 50-day moving average price of $0.79. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -48.05 and a beta of 0.42.
Cybin (NYSE:CYBN - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter. As a group, equities analysts forecast that Cybin Inc. will post -0.08 earnings per share for the current year.
Institutional Trading of Cybin
Hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new position in shares of Cybin in the second quarter worth approximately $36,000. AdvisorShares Investments LLC boosted its holdings in Cybin by 13.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company's stock worth $494,000 after buying an additional 220,403 shares during the period. PEAK6 Investments LLC purchased a new stake in Cybin in the 1st quarter worth $95,000. AWM Investment Company Inc. bought a new stake in Cybin during the first quarter valued at about $930,000. Finally, Rosalind Advisors Inc. lifted its position in shares of 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 acquiring an additional 5,340,000 shares in 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.
See Also
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
