Cybin Inc. (NASDAQ:HELP) Receives Consensus Recommendation of “Buy” from Analysts

Cybin Inc. (NASDAQ:HELP) has earned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $48.60.

A number of brokerages have recently weighed in on HELP. Wells Fargo & Company began coverage on Cybin in a research note on Monday, July 27th. They issued an “overweight” rating and a $16.00 price objective for the company. TD Cowen increased their price objective on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen raised Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th.

Cybin Stock Performance

Shares of Cybin stock opened at $13.61 on Tuesday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.51 and a beta of 0.63. Cybin has a fifty-two week low of $3.76 and a fifty-two week high of $14.35. The stock has a 50 day moving average of $10.12 and a 200 day moving average of $6.94.

Cybin (NASDAQ:HELP) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). Analysts forecast that Cybin will post -2.95 EPS for the current year.

Insider Activity

In other news, insider Eric H. L. So bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average cost of $12.39 per share, with a total value of $1,239,000.00. Following the transaction, the insider directly owned 4,465,014 shares in the company, valued at $55,321,523.46. This trade represents a 2.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Glavine acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average cost of $12.47 per share, with a total value of $1,247,000.00. Following the completion of the acquisition, the insider directly owned 4,271,252 shares of the company’s stock, valued at approximately $53,262,512.44. This trade represents a 2.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 585,000 shares of company stock valued at $7,037,100 over the last three months. Company insiders own 15.00% of the company’s stock.

Institutional Trading of Cybin

An institutional investor recently bought a new stake in Cybin stock. Pale Fire Capital SE acquired a new position in shares of Cybin Inc. (NASDAQ:HELP) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 153,505 shares of the company’s stock, valued at approximately $1,015,000. Pale Fire Capital SE owned 0.21% of Cybin at the end of the most recent quarter. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

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.