Insider Buying: Cybin (NASDAQ:HELP) Insider Purchases $1,209,000.00 in Stock

Cybin Inc. (NASDAQ:HELP) insider Eric So bought 100,000 shares of the stock in a transaction dated Friday, September 4th. The stock was bought at an average price of $12.09 per share, with a total value of $1,209,000.00. Following the purchase, the insider owned 4,365,014 shares of the company’s stock, valued at approximately $52,773,019.26. This represents a 2.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cybin Stock Performance

Cybin stock opened at $12.97 on Friday. The stock’s 50 day moving average price is $9.97 and its 200 day moving average price is $6.89. The firm has a market capitalization of $980.66 million, a PE ratio of -4.29 and a beta of 0.63. Cybin Inc. has a one year low of $3.76 and a one year high of $14.35.

Cybin (NASDAQ:HELP) last issued 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). On average, analysts forecast that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Cybin in a report on Monday, July 27th. They set an “overweight” rating and a $16.00 price target for the company. Wall Street Zen raised shares of Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, TD Cowen upped their price objective on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Cybin has a consensus rating of “Buy” and a consensus target price of $48.60.

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.

Hedge Funds Weigh In On Cybin

Institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its stake in shares of 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 during the last quarter. AXQ Capital LP acquired a new stake in shares of Cybin during the second quarter worth approximately $75,000. Bank of America Corp DE increased its stake in shares of Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after buying an additional 11,790 shares during the last quarter. Pale Fire Capital SE bought a new stake in shares of Cybin in the second quarter worth $1,015,000. Finally, Millennium Management LLC raised its holdings in Cybin by 1,388.5% in 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 in the last quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.