Cybin (OTCMKTS:CYBN) Price Target Cut to C$1.50

Cybin (OTCMKTS:CYBNGet Rating) had its price objective reduced by Stifel Nicolaus from C$3.00 to C$1.50 in a research note published on Monday morning, The Fly reports.

Separately, HC Wainwright reiterated a buy rating and issued a $10.00 target price on shares of Cybin in a report on Thursday, November 17th.

Cybin Price Performance

OTCMKTS:CYBN opened at $0.43 on Monday. The company has a market cap of $76.12 million, a price-to-earnings ratio of -1.59 and a beta of 1.35. The stock’s 50 day simple moving average is $0.52 and its two-hundred day simple moving average is $0.63. Cybin has a 1 year low of $0.39 and a 1 year high of $1.60.

Cybin (OTCMKTS:CYBNGet Rating) last announced its earnings results on Monday, November 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. As a group, analysts anticipate that Cybin will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Cybin

A number of large investors have recently bought and sold shares of CYBN. Jane Street Group LLC lifted its holdings in shares of Cybin by 370.6% in the 1st quarter. Jane Street Group LLC now owns 74,631 shares of the company’s stock worth $61,000 after buying an additional 58,771 shares during the period. Tcwp LLC purchased a new stake in shares of Cybin in the 1st quarter worth $55,000. Wedbush Securities Inc. purchased a new stake in shares of Cybin in the 2nd quarter worth $40,000. IAG Wealth Partners LLC purchased a new stake in shares of Cybin in the 2nd quarter worth $47,000. Finally, Royal Bank of Canada lifted its holdings in shares of Cybin by 926.4% in the 3rd quarter. Royal Bank of Canada now owns 109,239 shares of the company’s stock worth $52,000 after buying an additional 98,596 shares during the period. Hedge funds and other institutional investors own 8.78% of the company’s stock.

Cybin Company Profile

(Get Rating)

Cybin Inc, a biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine for treating anxiety disorders; and CYB005, a phenethylamine derivative to treat neuroinflammation.

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