Cybin (NASDAQ:HELP) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Cybin (NASDAQ:HELP) from a sell rating to a strong sell rating in a report released on Saturday,Wall Street Zen reports.

Several other research analysts also recently commented on the company. Wells Fargo & Company raised their price objective on Cybin from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. TD Cowen boosted their price objective on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Barclays initiated coverage on shares of Cybin in a report on Friday, September 18th. They issued an “overweight” rating and a $35.00 target price for the company. Six analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $47.33.

Cybin Stock Performance

Shares of Cybin stock opened at $8.96 on Friday. Cybin has a one year low of $3.76 and a one year high of $15.15. The stock’s fifty day moving average is $11.51 and its 200 day moving average is $7.77. The stock has a market cap of $715.10 million, a P/E ratio of -2.97 and a beta of 0.64.

Cybin (NASDAQ:HELP) last released its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Analysts predict that Cybin will post -2.95 EPS for the current year.

Insider Activity

In other news, insider Eric H. L. So bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, with a total value of $1,239,000.00. Following the acquisition, the insider owned 4,465,014 shares of the company’s stock, valued at approximately $55,321,523.46. This represents a 2.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Greg Cavers purchased 3,000 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was acquired at an average price of $12.91 per share, with a total value of $38,730.00. Following the purchase, the chief financial officer directly owned 3,000 shares in the company, valued at $38,730. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 688,000 shares of company stock worth $8,422,830 in the last quarter. Corporate insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Cybin

A number of hedge funds have recently made changes to their positions in HELP. AXQ Capital LP bought a new stake in Cybin in the 2nd quarter valued at $75,000. Farther Finance Advisors LLC lifted its stake in Cybin by 927.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after purchasing an additional 20,597 shares in the last quarter. WealthPlan Investment Management LLC purchased a new stake in Cybin in the 3rd quarter worth $1,272,000. ACT Capital Partners L.P. purchased a new stake in Cybin in the 3rd quarter worth $1,659,000. Finally, Pale Fire Capital SE purchased a new stake in Cybin in the 2nd quarter worth $1,015,000. Institutional investors own 17.94% of the company’s stock.

About Cybin

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.