PDS Planning Inc trimmed its position in shares of Cybin Inc. (NYSE:CYBN - Free Report) by 88.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,344 shares of the company's stock after selling 237,236 shares during the period. PDS Planning Inc owned approximately 0.15% of Cybin worth $268,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Fore Capital LLC boosted its holdings 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 in the last quarter. Essential Planning LLC. acquired a new stake in Cybin in the fourth quarter valued at about $138,000. Cowa LLC bought a new position in Cybin in the fourth quarter valued at about $115,000. Finally, Global Retirement Partners LLC acquired a new position in Cybin during the fourth quarter worth about $46,000. 17.94% of the stock is owned by institutional investors.
Cybin Stock Up 1.0 %
NYSE:CYBN traded up $0.07 during trading hours on Monday, hitting $7.38. 139,195 shares of the company were exchanged, compared to its average volume of 219,450. The company has a market cap of $158.50 million, a PE ratio of -1.68 and a beta of 0.50. Cybin Inc. has a one year low of $6.50 and a one year high of $17.86. The business's fifty day moving average is $8.76.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. 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. Guggenheim started coverage on Cybin in a research note on Thursday, March 13th. They issued a "buy" rating and a $35.00 price target for the company. Finally, Canaccord Genuity Group cut their price objective on Cybin from $86.00 to $73.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th.
Get Our Latest Analysis on Cybin
About Cybin
(
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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