Cybin (NASDAQ:HELP) Releases Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Cybin (NASDAQ:HELP) announced its quarterly earnings data on Friday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11), FiscalAI reports.

Cybin Trading Up 4.7%

Shares of HELP stock traded up $0.54 on Friday, reaching $11.99. 1,521,382 shares of the stock were exchanged, compared to its average volume of 2,092,962. The business’s 50 day moving average price is $7.02 and its 200 day moving average price is $6.06. The company has a market capitalization of $837.79 million, a price-to-earnings ratio of -2.83 and a beta of 0.55. Cybin has a twelve month low of $3.76 and a twelve month high of $12.03.

Institutional Trading of Cybin

A number of hedge funds and other institutional investors have recently bought and sold shares of HELP. Millennium Management LLC lifted its stake in Cybin by 1,388.5% during the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after purchasing an additional 959,448 shares during the last quarter. Osaic Holdings Inc. increased its stake in Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after purchasing an additional 11,790 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company assumed coverage on Cybin in a research report on Monday, July 27th. They issued an “overweight” rating and a $16.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $45.25.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.