PEAK6 Investments LLC Sells 420,512 Shares of Cybin Inc. (NYSE:CYBN)

PEAK6 Investments LLC reduced its stake in Cybin Inc. (NYSE:CYBN - Free Report) by 97.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,370 shares of the company's stock after selling 420,512 shares during the period. PEAK6 Investments LLC owned approximately 0.06% of Cybin worth $101,000 at the end of the most recent reporting period.

Separately, AdvisorShares Investments LLC increased its holdings in Cybin by 13.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company's stock worth $494,000 after acquiring an additional 220,403 shares during the period. Hedge funds and other institutional investors own 17.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canaccord Genuity Group cut their price target on shares of Cybin from $96.00 to $86.00 and set a "buy" rating for the company in a report on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and issued a $190.00 price objective on shares of Cybin in a research report on Monday, November 18th.

Cybin Trading Up 1.3 %

Shares of NYSE CYBN traded up $0.14 during midday trading on Friday, hitting $10.78. 199,462 shares of the company's stock were exchanged, compared to its average volume of 189,311. The firm has a fifty day moving average price of $10.30. The stock has a market capitalization of $215.49 million, a P/E ratio of -1.62 and a beta of 0.39. Cybin Inc. has a 12-month low of $6.50 and a 12-month high of $19.85.

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.