Cybin (OTCMKTS:CYBN) Shares Down 3%

Cybin Inc. (OTCMKTS:CYBN) shares were down 3% during trading on Friday . The stock traded as low as $0.34 and last traded at $0.36. Approximately 4,436,106 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 4,807,171 shares. The stock had previously closed at $0.37.

Analysts Set New Price Targets

Separately, Bloom Burton reissued a “buy” rating on shares of Cybin in a research note on Thursday, May 2nd.

Cybin Stock Down 3.0 %

The company has a market capitalization of $148.93 million, a PE ratio of -1.73 and a beta of 0.50. The firm’s 50 day simple moving average is $0.39 and its 200 day simple moving average is $0.41.

Cybin (OTCMKTS:CYBN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). As a group, sell-side analysts predict that Cybin Inc. will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Cybin

A hedge fund recently raised its stake in Cybin stock. Nadler Financial Group Inc. grew its holdings in Cybin Inc. (OTCMKTS:CYBN) by 125.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,700 shares of the company’s stock after purchasing an additional 55,000 shares during the period. Nadler Financial Group Inc.’s holdings in Cybin were worth $41,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.