Cybin (NASDAQ:HELP) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of Cybin (NASDAQ:HELP) in a report issued on Monday. The firm set an “overweight” rating and a $16.00 price target on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 109.97% from the company’s current price.

Separately, TD Cowen began coverage on Cybin in a research note on Monday, April 13th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $45.25.

Cybin Stock Performance

Shares of NASDAQ:HELP opened at $7.62 on Monday. The firm has a market capitalization of $532.41 million, a price-to-earnings ratio of -1.80 and a beta of 0.62. Cybin has a 12 month low of $3.76 and a 12 month high of $9.12. The stock’s fifty day moving average is $5.47.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Cybin by 1,388.5% in the 4th 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 during the period. Bank of America Corp DE grew its holdings in Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares during the period. Finally, Osaic Holdings Inc. increased its position in Cybin by 46.7% during the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after buying an additional 2,400 shares during the last quarter. 17.94% of the stock is currently owned by institutional investors.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.