Cybin Inc. (NASDAQ:HELP) Receives Average Recommendation of “Buy” from Brokerages

Cybin Inc. (NASDAQ:HELP) has earned a consensus recommendation of “Buy” from the five research firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $45.25.

A number of equities research analysts have recently commented on HELP shares. TD Cowen initiated coverage on shares of Cybin in a report on Monday, April 13th. They set a “buy” rating for the company. Wells Fargo & Company assumed coverage on shares of Cybin in a research report on Monday, July 27th. They set an “overweight” rating and a $16.00 price target on the stock.

Institutional Investors Weigh In On Cybin

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position in shares of Cybin by 46.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after purchasing an additional 2,400 shares during the period. Bank of America Corp DE raised its holdings in shares of Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after acquiring an additional 959,448 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Price Performance

Shares of HELP opened at $7.82 on Monday. The company has a 50-day moving average of $5.81. Cybin has a 52-week low of $3.76 and a 52-week high of $9.12. The stock has a market cap of $546.41 million, a P/E ratio of -1.85 and a beta of 0.62.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.