Cybin Inc. (NASDAQ:HELP) Stock Has Consensus Target Price of $47.33 According to Analysts

Cybin Inc. (NASDAQ:HELP) has been assigned an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $47.33.

A number of equities research analysts have issued reports on the stock. TD Cowen raised their price target on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wells Fargo & Company lifted their price objective on Cybin from $16.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Barclays initiated coverage on shares of Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Wall Street Zen downgraded Cybin from a “sell” rating to a “strong sell” rating in a report on Saturday.

Insider Buying and Selling at Cybin

In related news, insider Paul Glavine acquired 100,000 shares of the stock in a transaction 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 $53,262,512.44. This represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Halstead bought 100,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was bought at an average cost of $13.47 per share, for a total transaction 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. The trade was a 145.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 688,000 shares of company stock valued at $8,422,830. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Cybin

A number of hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP bought a new stake in shares of Cybin in the 3rd quarter worth $5,286,000. Pale Fire Capital SE bought a new position in Cybin during the 2nd quarter valued at about $1,015,000. ACT Capital Partners L.P. bought a new position in Cybin during the 3rd quarter valued at about $1,659,000. WealthPlan Investment Management LLC bought a new stake in shares of Cybin in the third quarter worth approximately $1,272,000. Finally, Farther Finance Advisors LLC raised 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 purchasing an additional 20,597 shares during the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Cybin Price Performance

HELP stock opened at $9.07 on Wednesday. Cybin has a one year low of $3.76 and a one year high of $15.15. The company’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $7.78.

Cybin (NASDAQ:HELP) last announced its quarterly earnings data 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). As a group, analysts anticipate that Cybin will post -2.95 earnings per share for the current year.

Cybin Company Profile

Cybin, which changed its name to Helus Pharma, is a clinical-stage biopharmaceutical company developing psychedelic-based treatments for mental health conditions. Its research focuses on designing and evaluating investigational compounds intended to address conditions including depression and anxiety disorders. The company’s pipeline has included CYB003, a deuterated psilocin analog being studied for major depressive disorder, and CYB004, an investigational DMT-based treatment studied for generalized anxiety disorder.