Cybin (NASDAQ:HELP) Stock Price Up 9.7% – Should You Buy?

Cybin Inc. (NASDAQ:HELP)’s share price traded up 9.7% during mid-day trading on Monday . The company traded as high as $13.38 and last traded at $13.5660. 487,342 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 1,235,494 shares. The stock had previously closed at $12.37.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HELP shares. Wells Fargo & Company assumed coverage on shares of Cybin in a report on Monday, July 27th. They issued an “overweight” rating and a $16.00 price objective on the stock. Barclays initiated coverage on Cybin in a research note on Friday. They issued an “overweight” rating and a $35.00 price objective on the stock. Wall Street Zen raised shares of Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, TD Cowen increased their price target on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $46.33.

Cybin Trading Up 9.7%

The company’s 50 day moving average price is $10.67 and its 200 day moving average price is $7.10. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -4.51 and a beta of 0.63.

Cybin (NASDAQ:HELP) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). Sell-side analysts predict that Cybin Inc. will post -2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul Glavine bought 100,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the transaction, the insider owned 4,271,252 shares of the company’s stock, valued at approximately $53,262,512.44. This trade represents a 2.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric H. L. So purchased 100,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were bought at an average cost of $12.39 per share, for a total transaction of $1,239,000.00. Following the completion of the purchase, the insider owned 4,465,014 shares in the company, valued at approximately $55,321,523.46. This trade represents a 2.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 585,000 shares of company stock worth $7,037,100 in the last ninety days. 15.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Cybin stock. AXQ Capital LP acquired a new position in shares of Cybin Inc. (NASDAQ:HELP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,315 shares of the company’s stock, valued at approximately $75,000. 17.94% of the stock is owned by institutional investors and hedge funds.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.