Cybin (NASDAQ:HELP) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Cybin (NASDAQ:HELP) from a strong sell rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research analysts have also commented on HELP. Wells Fargo & Company assumed coverage on shares of Cybin in a research note on Monday, July 27th. They set an “overweight” rating and a $16.00 price objective for the company. Barclays assumed coverage on shares of Cybin in a research note on Friday, September 18th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, TD Cowen lifted 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. Six equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $46.33.

Cybin Stock Performance

HELP stock opened at $10.55 on Friday. The firm has a market cap of $842.00 million, a price-to-earnings ratio of -3.49 and a beta of 0.53. The firm has a 50-day simple moving average of $12.13 and a two-hundred day simple moving average of $7.99. Cybin has a one year low of $3.76 and a one year high of $15.15.

Cybin (NASDAQ:HELP) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). As a group, equities analysts predict that Cybin will post -2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cybin news, CEO Michael Halstead purchased 100,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,270,610.96. This represents a 145.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Greg Cavers purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was acquired at an average price of $12.91 per share, with a total value of $38,730.00. Following the completion of the purchase, the chief financial officer owned 3,000 shares of the company’s stock, valued at $38,730. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 688,000 shares of company stock valued at $8,422,830 in the last 90 days. Corporate insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Cybin

A number of large investors have recently modified their holdings of HELP. AXQ Capital LP acquired a new position in shares of Cybin during the second quarter valued at about $75,000. Farther Finance Advisors LLC raised its position in shares of Cybin by 927.4% in the 3rd 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. WealthPlan Investment Management LLC purchased a new position in shares of Cybin in the 3rd quarter valued at approximately $1,272,000. Finally, Pale Fire Capital SE acquired a new stake in Cybin in the 2nd quarter worth approximately $1,015,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.