Cybin (NASDAQ:HELP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cybin (NASDAQ:HELP) from a strong sell rating to a sell rating in a research report report published on Saturday,Wall Street Zen reports.

HELP has been the subject of a number of other research reports. Barclays started coverage on shares of Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 target price for the company. 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 report on Thursday, August 20th. Finally, Wells Fargo & Company began coverage on shares of Cybin in a research report on Monday, July 27th. They issued an “overweight” rating and a $16.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $46.33.

Cybin Price Performance

Cybin stock opened at $10.69 on Friday. Cybin has a fifty-two week low of $3.76 and a fifty-two week high of $15.15. The stock’s fifty day moving average is $12.15 and its two-hundred day moving average is $8.06.

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

Insider Activity

In other Cybin news, insider Eric H. L. So purchased 100,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was bought at an average cost of $12.39 per share, for a total transaction of $1,239,000.00. Following the acquisition, the insider owned 4,465,014 shares of the company’s stock, valued at approximately $55,321,523.46. The trade was a 2.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Greg Cavers purchased 3,000 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was acquired at an average price of $12.91 per share, with a total value of $38,730.00. Following the completion of the acquisition, the chief financial officer directly owned 3,000 shares in the company, valued at $38,730. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 688,000 shares of company stock worth $8,422,830 in the last three months. 15.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. WealthPlan Investment Management LLC purchased a new stake in shares of Cybin in the third quarter valued at $1,272,000. Farther Finance Advisors LLC increased its stake in Cybin by 927.4% in the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after purchasing an additional 20,597 shares during the last quarter. AXQ Capital LP acquired a new position in Cybin in the second quarter valued at $75,000. Finally, Pale Fire Capital SE acquired a new position in Cybin in the second quarter valued at $1,015,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Cybin

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.