Cybin Inc. (NASDAQ:HELP) Stock Has Consensus Price Target of $47.33 According to Brokerages

Shares of Cybin Inc. (NASDAQ:HELP) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $47.33.

A number of analysts recently weighed in on the stock. Barclays assumed coverage on shares of Cybin in a research report on Friday, September 18th. They issued an “overweight” rating and a $35.00 price objective for the company. TD Cowen upped 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 upgraded Cybin from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 25th. Finally, Wells Fargo & Company lifted their target price on Cybin from $16.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd.

Insider Transactions at Cybin

In other news, CEO Michael Halstead acquired 100,000 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average cost of $13.47 per share, for a total transaction of $1,347,000.00. Following the completion of the transaction, the chief executive officer directly owned 168,568 shares in the company, valued at $2,270,610.96. This trade represents a 145.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric H. L. So acquired 100,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $12.39 per share, with a total value 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. The trade was a 2.29% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 688,000 shares of company stock worth $8,422,830. 15.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AXQ Capital LP bought a new stake in shares of Cybin during the second quarter worth approximately $75,000. Farther Finance Advisors LLC lifted its holdings in Cybin by 927.4% in the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after buying an additional 20,597 shares during the period. WealthPlan Investment Management LLC acquired a new position in Cybin in the third quarter valued at approximately $1,272,000. Finally, Pale Fire Capital SE acquired a new position in Cybin in the second quarter valued at approximately $1,015,000. Institutional investors own 17.94% of the company’s stock.

Cybin Trading Up 2.6%

HELP opened at $9.03 on Wednesday. The stock has a market capitalization of $720.68 million, a PE ratio of -2.99 and a beta of 0.64. Cybin has a 1-year low of $3.76 and a 1-year high of $15.15. The firm has a 50-day moving average price of $11.81 and a two-hundred day moving average price of $7.76.

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 analysts’ consensus estimates of ($0.80) by ($0.11). On average, research analysts predict that Cybin will post -2.95 EPS for the current year.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research programs are designed to address disorders such as major depressive disorder and other conditions where existing treatments may not provide adequate relief.

Cybin’s development platform has included investigational compounds such as CYB003, a deuterated psilocybin analog being studied for depression, and CYB004, an investigational N,N-dimethyltryptamine (DMT) formulation being evaluated for potential use in mental health treatment.