Cybin (OTCMKTS:CYBN) Shares Up 1.2% – Should You Buy?

Cybin Inc. (OTCMKTS:CYBN)’s stock price shot up 1.2% on Monday . The stock traded as high as $8.38 and last traded at $8.28. 717,287 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 503,386 shares. The stock had previously closed at $8.18.

Analysts Set New Price Targets

CYBN has been the subject of several analyst reports. Guggenheim reiterated a “buy” rating on shares of Cybin in a report on Wednesday, December 3rd. Canaccord Genuity Group lowered their target price on shares of Cybin from $70.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, HC Wainwright dropped their target price on Cybin from $150.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $50.00.

Cybin Price Performance

The firm’s 50 day simple moving average is $7.69 and its 200-day simple moving average is $6.94. The company has a market cap of $208.56 million, a price-to-earnings ratio of -43.58 and a beta of 0.64.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in Cybin in the fourth quarter valued at approximately $90,000. FNY Investment Advisers LLC increased its holdings in shares of Cybin by 50,844.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 50,944 shares of the company’s stock valued at $300,000 after acquiring an additional 50,844 shares during the period. Advisory Services Network LLC purchased a new stake in Cybin in the 3rd quarter valued at $30,000. Millennium Management LLC acquired a new stake in Cybin during the 3rd quarter worth $407,000. Finally, Bank of America Corp DE boosted its stake in Cybin by 114.2% during the 3rd quarter. Bank of America Corp DE now owns 63,056 shares of the company’s stock worth $371,000 after purchasing an additional 33,613 shares during the period. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc (OTCMKTS: CYBN) is a biotechnology company dedicated to the research, development and commercialization of psychedelic-based therapeutics for the treatment of various mental health conditions. The company leverages its proprietary drug discovery engine and novel delivery platforms to create next-generation psychedelic molecules designed to improve safety, efficacy and patient experience. Cybin’s pipeline includes psilocybin-derived compounds, 5-MeO-DMT analogs, LSD-inspired molecules and associated microdosing formulations.

Central to Cybin’s strategy is the DeNovo™ platform, which optimizes the pharmacological profiles of psychedelic agents while advancing scalable manufacturing processes.