Cybin (NASDAQ:HELP) Insider Eric So Acquires 95,000 Shares

Cybin Inc. (NASDAQ:HELP) insider Eric So bought 95,000 shares of Cybin stock in a transaction dated Tuesday, September 1st. The shares were bought at an average cost of $11.80 per share, for a total transaction of $1,121,000.00. Following the completion of the transaction, the insider owned 4,265,014 shares of the company’s stock, valued at approximately $50,327,165.20. This trade represents a 2.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cybin Stock Performance

Shares of NASDAQ HELP opened at $13.68 on Thursday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.53 and a beta of 0.63. The stock has a 50 day moving average price of $9.70 and a 200 day moving average price of $6.81. Cybin Inc. has a 52-week low of $3.76 and a 52-week high of $14.35.

Cybin (NASDAQ:HELP) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current year.

Hedge Funds Weigh In On Cybin

Several hedge funds and other institutional investors have recently modified their holdings of HELP. Millennium Management LLC grew its position in Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after purchasing an additional 959,448 shares during the period. Pale Fire Capital SE purchased a new position in shares of Cybin during the 2nd quarter valued at about $1,015,000. Bank of America Corp DE lifted 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 valued at $247,000 after buying an additional 11,790 shares during the period. AXQ Capital LP purchased a new stake in shares of Cybin in the second quarter worth about $75,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after buying an additional 2,400 shares during the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HELP shares. Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Wells Fargo & Company started coverage on shares of Cybin in a report on Monday, July 27th. They issued an “overweight” rating and a $16.00 price target for the company. Finally, TD Cowen upped their price target 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. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Cybin presently has a consensus rating of “Buy” and a consensus price target of $48.60.

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.