Insider Buying: Cybin (NASDAQ:HELP) Insider Buys $1,121,000.00 in Stock

Cybin Inc. (NASDAQ:HELP) insider Eric So bought 95,000 shares of Cybin stock in a transaction on Tuesday, September 1st. The shares were acquired at an average price of $11.80 per share, for a total transaction of $1,121,000.00. Following the completion of the acquisition, the insider owned 4,265,014 shares of the company’s stock, valued at approximately $50,327,165.20. This represents a 2.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Cybin Trading Up 10.4%

Shares of NASDAQ:HELP traded up $1.29 during trading on Wednesday, hitting $13.68. 1,719,658 shares of the company’s stock traded hands, compared to its average volume of 1,198,978. The company has a 50-day moving average price of $9.56 and a 200-day moving average price of $6.76. Cybin Inc. has a 52 week low of $3.76 and a 52 week high of $14.35. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -4.53 and a beta of 0.63.

Cybin (NASDAQ:HELP) last posted its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, analysts predict that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HELP shares. Wall Street Zen upgraded shares of Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. TD Cowen upped their target price on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company began coverage on Cybin in a report on Monday, July 27th. They set an “overweight” rating and a $16.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $48.60.

Institutional Investors Weigh In On Cybin

Several institutional investors have recently bought and sold shares of HELP. AXQ Capital LP bought a new position in shares of Cybin during the 2nd quarter worth approximately $75,000. Pale Fire Capital SE bought a new stake in shares of Cybin in the second quarter worth $1,015,000. Millennium Management LLC lifted its position in shares of Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after purchasing an additional 959,448 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Cybin by 46.7% during the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.