Cybin (NYSEAMERICAN:CYBN) Trading 2.3% Higher

Cybin Inc. (NYSEAMERICAN:CYBN) shares shot up 2.3% during trading on Thursday . The stock traded as high as $0.27 and last traded at $0.27. 2,661,981 shares were traded during mid-day trading, a decline of 44% from the average session volume of 4,717,433 shares. The stock had previously closed at $0.26.

Cybin Stock Down 2.3 %

The stock has a market cap of $108.75 million, a price-to-earnings ratio of -1.26 and a beta of 0.50.

Cybin (NYSEAMERICAN:CYBN) last issued its quarterly earnings results on Wednesday, June 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Equities analysts predict that Cybin Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Cybin

A number of institutional investors have recently modified their holdings of CYBN. Rathbones Group PLC bought a new stake in Cybin during the 4th quarter valued at about $26,000. Cerity Partners LLC raised its holdings in Cybin by 488.5% in the 4th quarter. Cerity Partners LLC now owns 88,271 shares of the company’s stock worth $36,000 after acquiring an additional 73,271 shares during the last quarter. Finally, PDS Planning Inc bought a new position in Cybin in the 4th quarter valued at approximately $473,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.