Rosalind Advisors Inc. reduced its stake in shares of Cybin Inc. (NYSE:CYBN - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 810,918 shares of the company's stock after selling 264,187 shares during the quarter. Cybin accounts for approximately 3.6% of Rosalind Advisors Inc.'s holdings, making the stock its 11th largest holding. Rosalind Advisors Inc. owned about 3.86% of Cybin worth $7,152,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in shares of Cybin during the fourth quarter valued at approximately $46,000. Cowa LLC acquired a new position in Cybin in the 4th quarter worth $115,000. Essential Planning LLC. purchased a new position in Cybin in the 4th quarter valued at about $138,000. Finally, Fore Capital LLC boosted its position in 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 buying an additional 13,000 shares during the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.
Cybin Price Performance
Shares of CYBN stock traded down $0.20 during trading hours on Wednesday, hitting $7.01. 180,279 shares of the company were exchanged, compared to its average volume of 219,237. The company has a market cap of $150.55 million, a PE ratio of -1.60 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 firm has a 50-day moving average price of $8.69.
Wall Street Analyst Weigh In
Several research firms recently commented on CYBN. Guggenheim initiated coverage on Cybin in a research note on Thursday, March 13th. They issued a "buy" rating and a $35.00 price target on the stock. Canaccord Genuity Group cut their target price on Cybin from $86.00 to $73.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Finally, HC Wainwright reduced their target price on Cybin from $190.00 to $150.00 and set a "buy" rating for the company in a research note on Thursday, February 13th.
Check Out Our Latest Analysis on CYBN
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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