Cybin (NASDAQ:HELP) Releases Earnings Results, Misses Expectations By $0.74 EPS

Cybin (NASDAQ:HELP) issued its quarterly earnings data on Friday. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.74), FiscalAI reports.

Cybin Price Performance

Shares of Cybin stock traded up $0.01 on Friday, hitting $8.87. The company had a trading volume of 976,721 shares, compared to its average volume of 1,283,769. The business has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $7.80. The company has a market cap of $707.91 million, a PE ratio of -2.94 and a beta of 0.64. Cybin has a 52 week low of $3.76 and a 52 week high of $15.15.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen upped their target price on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Wells Fargo & Company lifted their price target on Cybin from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Barclays began coverage on Cybin in a research report on Friday, September 18th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, Wall Street Zen lowered Cybin from a “sell” rating to a “strong sell” rating in a report on Saturday, November 7th. Six equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $47.33.

Insider Activity at Cybin

In other news, CEO Michael Halstead bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were purchased at an average price of $13.47 per share, with a total value of $1,347,000.00. Following the completion of the acquisition, the chief executive officer directly owned 168,568 shares in the company, valued at approximately $2,270,610.96. This trade represents a 145.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric H. L. So bought 100,000 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the completion of the transaction, the insider directly owned 4,465,014 shares of the company’s stock, valued at $55,321,523.46. This trade represents a 2.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 688,000 shares of company stock worth $8,422,830 over the last ninety days. Insiders own 15.00% of the company’s stock.

Institutional Trading of Cybin

A number of hedge funds and other institutional investors have recently modified their holdings of HELP. AXQ Capital LP acquired a new stake in Cybin during the second quarter valued at approximately $75,000. Farther Finance Advisors LLC grew its position in Cybin by 927.4% in the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after buying an additional 20,597 shares during the last quarter. State Street Corp acquired a new position in Cybin in the third quarter worth approximately $363,000. WealthPlan Investment Management LLC acquired a new position in Cybin in the third quarter worth approximately $1,272,000. Finally, ACT Capital Partners L.P. acquired a new position in Cybin in the third quarter worth approximately $1,659,000. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin, which changed its name to Helus Pharma, is a clinical-stage biopharmaceutical company developing psychedelic-based treatments for mental health conditions. Its research focuses on designing and evaluating investigational compounds intended to address conditions including depression and anxiety disorders. The company’s pipeline has included CYB003, a deuterated psilocin analog being studied for major depressive disorder, and CYB004, an investigational DMT-based treatment studied for generalized anxiety disorder.