Insider Buying: Cybin (NASDAQ:HELP) Insider Purchases $1,178,000.00 in Stock

Cybin Inc. (NASDAQ:HELP) insider Paul Glavine bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average cost of $11.78 per share, with a total value of $1,178,000.00. Following the completion of the transaction, the insider directly owned 4,171,252 shares in the company, valued at $49,137,348.56. This represents a 2.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Paul Glavine also recently made the following trade(s):

• On Tuesday, September 8th, Paul Glavine purchased 100,000 shares of Cybin stock. The stock was purchased at an average price of $12.47 per share, for a total transaction of $1,247,000.00.
• On Monday, August 31st, Paul Glavine acquired 90,000 shares of Cybin stock. The stock was purchased at an average cost of $11.59 per share, with a total value of $1,043,100.00.

Cybin Stock Up 1.0%

NASDAQ HELP opened at $12.97 on Friday. The company has a market cap of $980.66 million, a price-to-earnings ratio of -4.29 and a beta of 0.63. Cybin Inc. has a 52 week low of $3.76 and a 52 week high of $14.35. The business has a 50 day moving average price of $9.97 and a 200-day moving average price of $6.89.

Cybin (NASDAQ:HELP) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.11). On average, equities research analysts anticipate that Cybin Inc. will post -2.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen raised Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. TD Cowen raised their target price on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Wells Fargo & Company assumed coverage on Cybin in a research note on Monday, July 27th. They set an “overweight” rating and a $16.00 target price on the stock. Five research 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 a consensus price target of $48.60.

More Cybin News

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider Paul Glavine bought 100,000 shares for approximately $1.25 million on September 8, increasing his direct ownership by 2.40%. Insider Eric H. L. So also purchased 100,000 shares for about $1.24 million, lifting his stake by 2.29%. These transactions follow additional purchases by both insiders in late August and early September, representing a notable pattern of open-market buying and likely supporting investor confidence. Eric So SEC filing Paul Glavine SEC filing
• Positive Sentiment: Cybin’s commercial operations are scheduled to receive investor exposure at the Morgan Stanley 24th Annual Global Healthcare Conference on September 16. CEO Michael Halstead is expected to participate in a fireside chat, potentially providing updates on the company’s psychedelic-based mental-health drug pipeline. Morgan Stanley conference announcement
• Neutral Sentiment: Reported short interest was zero shares with a zero-day days-to-cover ratio. However, the filing also showed an invalid “NaN” percentage change, making the data unreliable as an indicator of short-selling pressure.
• Negative Sentiment: Cybin remains an unprofitable clinical-stage biotechnology company. Its latest quarterly loss of $0.91 per share was worse than the expected $0.80 loss, and analysts project a full-year loss of approximately $2.95 per share. With no new trial result or regulatory approval reported, valuation and future financing needs remain important risks after the stock’s sharp advance.

Institutional Investors Weigh In On Cybin

Several large investors have recently modified their holdings of the stock. Pale Fire Capital SE bought a new stake in shares of Cybin in the 2nd quarter worth approximately $1,015,000. Millennium Management LLC grew its holdings in Cybin by 1,388.5% during the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares during the period. Osaic Holdings Inc. grew its holdings in Cybin by 46.7% during 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 period. Bank of America Corp DE increased its position in Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after buying an additional 11,790 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in Cybin in the second quarter worth $75,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.