Cybin (NASDAQ:HELP) Stock Rating Lowered by Wall Street Zen

Cybin (NASDAQ:HELP) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on HELP. Barclays initiated coverage on Cybin in a report on Friday, September 18th. They issued an “overweight” rating and a $35.00 price target for the company. Wells Fargo & Company began coverage on shares of Cybin in a research report on Monday, July 27th. They set an “overweight” rating and a $16.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cybin presently has a consensus rating of “Buy” and an average price target of $46.33.

Cybin Stock Performance

HELP stock opened at $11.70 on Friday. The business’s fifty day moving average price is $11.75 and its 200 day moving average price is $7.58. Cybin has a 12-month low of $3.76 and a 12-month high of $15.15. The company has a market capitalization of $930.74 million, a PE ratio of -3.87 and a beta of 0.53.

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

Insiders Place Their Bets

In other Cybin news, CFO Greg Cavers purchased 3,000 shares of Cybin stock in a transaction dated Tuesday, September 29th. The stock was acquired at an average cost of $12.91 per share, with a total value of $38,730.00. Following the acquisition, the chief financial officer directly owned 3,000 shares of the company’s stock, valued at $38,730. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Glavine purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average price of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the purchase, the insider owned 4,271,252 shares of the company’s stock, valued at approximately $53,262,512.44. This represents a 2.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 688,000 shares of company stock valued at $8,422,830. Corporate insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Cybin

A hedge fund recently bought a new stake in Cybin stock. Pale Fire Capital SE acquired a new stake in Cybin Inc. (NASDAQ:HELP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 153,505 shares of the company’s stock, valued at approximately $1,015,000. Pale Fire Capital SE owned about 0.21% of Cybin at the end of the most recent quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.