Cybin (NASDAQ:HELP) Stock Jumps 6.5% – What’s Next?

Cybin Inc. (NASDAQ:HELP)’s stock price was up 6.5% on Thursday. The stock traded as high as $11.15 and last traded at $11.05. Approximately 1,521,392 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 1,269,231 shares. The stock had previously closed at $10.38.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HELP shares. Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday. TD Cowen boosted 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. Barclays began coverage on shares of Cybin in a research report on Friday, September 18th. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on shares of Cybin in a research note on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price on the stock. Six analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $46.33.

Cybin Stock Down 4.5%

The firm’s 50-day moving average is $12.13 and its 200-day moving average is $7.99. The company has a market capitalization of $842.00 million, a PE ratio of -3.49 and a beta of 0.53.

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

Insider Transactions at Cybin

In other news, insider Eric H. L. So acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were bought at an average cost of $12.39 per share, with a total value of $1,239,000.00. Following the acquisition, the insider owned 4,465,014 shares in the company, valued at approximately $55,321,523.46. This represents a 2.29% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Greg Cavers acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $38,730.00. Following the completion of the acquisition, the chief financial officer 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. Insiders have bought a total of 688,000 shares of company stock valued at $8,422,830 over the last 90 days. Company insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. WealthPlan Investment Management LLC purchased a new position in shares of Cybin during the third quarter worth approximately $1,272,000. Farther Finance Advisors LLC boosted its stake in shares of Cybin by 927.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after purchasing an additional 20,597 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of Cybin in the 2nd quarter valued at $75,000. Finally, Pale Fire Capital SE bought a new position in shares of Cybin during the 2nd quarter valued at $1,015,000. 17.94% of the stock is currently owned by institutional investors.

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.