Cybin (NASDAQ:HELP) Stock Price Down 5.5% – Time to Sell?

Cybin Inc. (NASDAQ:HELP) shares traded down 5.5% during mid-day trading on Thursday . The company traded as low as $12.80 and last traded at $12.9250. Approximately 495,796 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,192,716 shares. The stock had previously closed at $13.68.

More Cybin News

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider Paul Glavine bought 100,000 shares for approximately $1.25 million on September 8, increasing his direct ownership by 2.40%. Insider Eric H. L. So also purchased 100,000 shares for about $1.24 million, lifting his stake by 2.29%. These transactions follow additional purchases by both insiders in late August and early September, representing a notable pattern of open-market buying and likely supporting investor confidence. Eric So SEC filing Paul Glavine SEC filing
• Positive Sentiment: Cybin’s commercial operations are scheduled to receive investor exposure at the Morgan Stanley 24th Annual Global Healthcare Conference on September 16. CEO Michael Halstead is expected to participate in a fireside chat, potentially providing updates on the company’s psychedelic-based mental-health drug pipeline. Morgan Stanley conference announcement
• Neutral Sentiment: Reported short interest was zero shares with a zero-day days-to-cover ratio. However, the filing also showed an invalid “NaN” percentage change, making the data unreliable as an indicator of short-selling pressure.
• Negative Sentiment: Cybin remains an unprofitable clinical-stage biotechnology company. Its latest quarterly loss of $0.91 per share was worse than the expected $0.80 loss, and analysts project a full-year loss of approximately $2.95 per share. With no new trial result or regulatory approval reported, valuation and future financing needs remain important risks after the stock’s sharp advance.

Analyst Ratings Changes

HELP has been the subject of a number of recent research reports. TD Cowen boosted their price target on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded shares of Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Finally, 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 target price for the company. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $48.60.

Cybin Price Performance

The stock has a fifty day moving average price of $9.97 and a two-hundred day moving average price of $6.89. The company has a market cap of $980.66 million, a P/E ratio of -4.29 and a beta of 0.63.

Cybin (NASDAQ:HELP) last announced its earnings results 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). Equities analysts predict that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric H. L. So bought 100,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, for a total transaction of $1,239,000.00. Following the completion of the acquisition, the insider directly owned 4,465,014 shares in the company, valued at approximately $55,321,523.46. This trade represents a 2.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Glavine purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the transaction, the insider directly owned 4,271,252 shares of the company’s stock, valued at $53,262,512.44. This represents a 2.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 585,000 shares of company stock worth $7,037,100 over the last ninety days. Insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Cybin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pale Fire Capital SE purchased a new position in shares of Cybin in the 2nd quarter worth approximately $1,015,000. Bank of America Corp DE increased its position in shares of Cybin by 66.8% during the second 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 during the last quarter. Millennium Management LLC increased its position in shares of 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 acquiring an additional 959,448 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Cybin by 46.7% during the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after acquiring an additional 2,400 shares during the period. Finally, AXQ Capital LP bought a new stake in Cybin during the second quarter worth $75,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.