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 released on Sunday morning,Wall Street Zen reports.

HELP has been the subject of a number of other reports. Wells Fargo & Company boosted their target price on Cybin from $16.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Barclays started coverage on Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, TD Cowen lifted their price objective on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Cybin presently has a consensus rating of “Buy” and a consensus price target of $47.33.

Cybin Price Performance

NASDAQ HELP opened at $10.52 on Friday. The stock has a fifty day moving average of $12.04 and a 200-day moving average of $7.70. Cybin has a 52 week low of $3.76 and a 52 week high of $15.15.

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

Insider Activity

In other Cybin news, CEO Michael Halstead bought 100,000 shares of Cybin stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $13.47 per share, with a total value of $1,347,000.00. Following the completion of the purchase, the chief executive officer owned 168,568 shares of the company’s stock, valued at approximately $2,270,610.96. This represents a 145.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric H. L. So acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the completion of the acquisition, the insider directly owned 4,465,014 shares in the company, valued at approximately $55,321,523.46. This represents a 2.29% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 688,000 shares of company stock valued at $8,422,830. Company insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthPlan Investment Management LLC purchased a new position in Cybin in the third quarter worth about $1,272,000. Pale Fire Capital SE purchased a new stake in shares of Cybin during the second quarter valued at approximately $1,015,000. Farther Finance Advisors LLC grew its holdings in shares of Cybin by 927.4% during the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after buying an additional 20,597 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Cybin during the second quarter valued at approximately $75,000. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research programs are designed to address disorders such as major depressive disorder and other conditions where existing treatments may not provide adequate relief.

Cybin’s development platform has included investigational compounds such as CYB003, a deuterated psilocybin analog being studied for depression, and CYB004, an investigational N,N-dimethyltryptamine (DMT) formulation being evaluated for potential use in mental health treatment.