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
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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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