Cybin (NYSE:CYBN) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cybin (NYSE:CYBN) in a research report sent to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock. HC Wainwright also issued estimates for Cybin’s FY2029 earnings at $0.25 EPS.

Separately, Cantor Fitzgerald reaffirmed an overweight rating on shares of Cybin in a research report on Friday, June 21st.

Cybin Price Performance

NYSE CYBN opened at $0.27 on Wednesday. The stock has a market capitalization of $110.93 million, a P/E ratio of -1.35 and a beta of 0.43. Cybin has a 52-week low of $0.25 and a 52-week high of $0.74. The stock’s 50-day moving average is $0.29.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. PEAK6 Investments LLC purchased a new stake in shares of Cybin during the first quarter worth $95,000. Ikarian Capital LLC purchased a new position in shares of Cybin in the first quarter valued at $5,770,000. Rosalind Advisors Inc. raised its stake in shares of Cybin by 38.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after purchasing an additional 5,340,000 shares during the period. RA Capital Management L.P. purchased a new stake in Cybin during the 1st quarter worth about $24,041,000. Finally, AWM Investment Company Inc. bought a new position in Cybin in the 1st quarter worth about $930,000. 17.94% of the stock is owned by institutional investors.

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.