Cybin Inc. (NASDAQ:HELP – Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.51, but opened at $6.93. Cybin shares last traded at $7.32, with a volume of 809,406 shares traded.
Analysts Set New Price Targets
Separately, TD Cowen initiated coverage on Cybin in a report on Monday, April 13th. They issued a “buy” rating on the stock. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $55.00.
Get Our Latest Research Report on HELP
Cybin Trading Up 3.0%
Institutional Trading of Cybin
Several hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised 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 buying an additional 2,400 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Cybin by 66.8% during the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after acquiring an additional 11,790 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after acquiring an additional 959,448 shares in the last quarter. 17.94% of the stock is currently owned by institutional investors and hedge funds.
Cybin Company Profile
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.
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