Cybin (NASDAQ:HELP) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Cybin (NASDAQ:HELP) issued its earnings results on Friday. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11), FiscalAI reports.

Cybin Stock Up 4.7%

Shares of HELP opened at $11.99 on Friday. The business has a fifty day moving average of $7.02 and a 200 day moving average of $6.06. The company has a market cap of $840.02 million, a PE ratio of -2.83 and a beta of 0.55. Cybin has a 52-week low of $3.76 and a 52-week high of $12.03.

Institutional Trading of Cybin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in Cybin by 46.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after buying an additional 2,400 shares in the last quarter. Bank of America Corp DE boosted its position in Cybin by 66.8% during the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after acquiring an additional 11,790 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Cybin by 1,388.5% during the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company assumed coverage on Cybin in a research report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $45.25.

Cybin Company Profile

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.