Cybin (NYSE:CYBN) Stock Rating Reaffirmed by Cantor Fitzgerald

Cybin (NYSE:CYBN)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday, Benzinga reports.

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

Cybin Trading Up 0.5 %

NYSE CYBN traded up $0.00 during trading hours on Wednesday, reaching $0.27. 1,354,196 shares of the company’s stock traded hands, compared to its average volume of 4,711,573. The company has a market cap of $112.70 million, a price-to-earnings ratio of -1.37 and a beta of 0.43. Cybin has a 52-week low of $0.25 and a 52-week high of $0.74. The business’s 50-day simple moving average is $0.29.

Cybin (NYSE:CYBN) last posted its quarterly earnings results on Wednesday, June 26th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). As a group, research analysts expect that Cybin will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PEAK6 Investments LLC bought a new stake in shares of Cybin during the first quarter valued at approximately $95,000. AWM Investment Company Inc. purchased a new stake in Cybin during the 1st quarter valued at $930,000. Ikarian Capital LLC bought a new stake in shares of Cybin in the 1st quarter worth $5,770,000. RA Capital Management L.P. purchased a new position in shares of Cybin in the first quarter worth $24,041,000. Finally, Rosalind Advisors Inc. raised its stake 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 worth $5,230,000 after purchasing an additional 5,340,000 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a biotechnology company. It is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. Cybin Inc is based in Toronto, Canada.