Cybin (NASDAQ:HELP) Stock Price Down 4.8% – Should You Sell?

Cybin Inc. (NASDAQ:HELP) shares traded down 4.8% during mid-day trading on Tuesday. The stock traded as low as $9.97 and last traded at $10.50. 3,163,543 shares were traded during trading, an increase of 149% from the average daily volume of 1,269,110 shares. The stock had previously closed at $11.03.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen raised their price objective 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. Wells Fargo & Company began coverage on shares of Cybin in a research note on Monday, July 27th. They set an “overweight” rating and a $16.00 target price on the stock. Wall Street Zen downgraded shares of Cybin from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Finally, Barclays assumed coverage on shares of Cybin in a report on Friday, September 18th. They set an “overweight” rating and a $35.00 target price on the stock. Six analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $46.33.

Cybin Trading Down 4.8%

The company has a market cap of $835.70 million, a PE ratio of -3.48 and a beta of 0.53. The company has a fifty day simple moving average of $12.13 and a two-hundred day simple moving average of $7.85.

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 the consensus estimate of ($0.80) by ($0.11). On average, research analysts anticipate that Cybin Inc. will post -2.95 EPS for the current fiscal year.

Insider Activity

In other news, insider Eric H. L. So purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, for a total transaction of $1,239,000.00. Following the completion of the purchase, the insider directly owned 4,465,014 shares of the company’s stock, valued at $55,321,523.46. The trade was a 2.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Glavine purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average price of $12.47 per share, with a total value of $1,247,000.00. Following the purchase, the insider directly owned 4,271,252 shares of the company’s stock, valued at $53,262,512.44. The trade was a 2.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 688,000 shares of company stock worth $8,422,830 in the last ninety days. 15.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Cybin

Several institutional investors have recently modified their holdings of HELP. Pale Fire Capital SE acquired a new position in shares of Cybin during the second quarter worth $1,015,000. Farther Finance Advisors LLC increased its holdings in Cybin by 927.4% in 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 acquired a new stake in Cybin in the second quarter valued at $75,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

Cybin Company Profile

Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.