103,500 Shares in Cybin Inc. $HELP Purchased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC bought a new position in Cybin Inc. (NASDAQ:HELP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 103,500 shares of the company’s stock, valued at approximately $1,272,000.

A number of other institutional investors also recently modified their holdings of HELP. AXQ Capital LP purchased a new position in shares of Cybin during the 2nd quarter valued at $75,000. Farther Finance Advisors LLC increased its stake in shares of Cybin by 927.4% in the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after acquiring an additional 20,597 shares during the last quarter. Finally, Pale Fire Capital SE acquired a new position in shares of Cybin in the second quarter worth $1,015,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Stock Performance

NASDAQ:HELP opened at $11.05 on Friday. The stock’s 50 day moving average price is $12.15 and its 200 day moving average price is $7.97. Cybin Inc. has a 52 week low of $3.76 and a 52 week high of $15.15.

Cybin (NASDAQ:HELP) last posted its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, equities research analysts predict that Cybin Inc. will post -2.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen increased their price objective on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wall Street Zen cut Cybin from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Barclays initiated coverage on Cybin in a research note on Friday, September 18th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Wells Fargo & Company initiated 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. Six equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $46.33.

Insider Buying and Selling at Cybin

In other Cybin news, insider Paul Glavine purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were bought at an average price of $12.47 per share, for a total transaction of $1,247,000.00. Following the purchase, the insider directly owned 4,271,252 shares in the company, valued at $53,262,512.44. This trade represents a 2.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Greg Cavers purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were acquired at an average price of $12.91 per share, for a total transaction of $38,730.00. Following the acquisition, the chief financial officer directly owned 3,000 shares in the company, valued at $38,730. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 688,000 shares of company stock worth $8,422,830. Company insiders own 15.00% of the company’s stock.

About Cybin

Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.