Cybin Inc. (NYSEAMERICAN:CYBN) Short Interest Update

Cybin Inc. (NYSEAMERICAN:CYBN) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 23,050,000 shares, an increase of 146.5% from the February 29th total of 9,350,000 shares. Based on an average trading volume of 5,100,000 shares, the days-to-cover ratio is presently 4.5 days. Approximately 6.6% of the shares of the company are short sold.

Cybin Price Performance

Shares of Cybin stock traded down $0.02 during trading on Thursday, hitting $0.41. The company’s stock had a trading volume of 4,722,750 shares, compared to its average volume of 5,353,565. The firm has a market cap of $167.51 million, a price-to-earnings ratio of -2.03 and a beta of 0.38. Cybin has a 52 week low of $0.21 and a 52 week high of $0.74.

Cybin (NYSEAMERICAN:CYBN) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, equities analysts anticipate that Cybin will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CYBN. Adviser Investments LLC grew its stake in Cybin by 301.7% during the 3rd quarter. Adviser Investments LLC now owns 58,647 shares of the company’s stock valued at $31,000 after purchasing an additional 44,046 shares in the last quarter. Thrive Wealth Management LLC acquired a new position in shares of Cybin in the 3rd quarter worth approximately $28,000. Connecticut Wealth Management LLC acquired a new stake in Cybin during the third quarter valued at approximately $28,000. FNY Investment Advisers LLC boosted its holdings in Cybin by 20,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 402,000 shares of the company’s stock worth $164,000 after buying an additional 400,000 shares in the last quarter. Finally, Lewis Asset Management LLC bought a new position in shares of Cybin in the fourth quarter valued at $116,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Cybin in a research note on Wednesday, March 13th.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.