Paul Glavine Acquires 100,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELP) insider Paul Glavine bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were bought at an average price of $11.78 per share, for a total transaction of $1,178,000.00. Following the transaction, the insider directly owned 4,171,252 shares in the company, valued at $49,137,348.56. This trade represents a 2.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Paul Glavine also recently made the following trade(s):

• On Monday, August 31st, Paul Glavine purchased 90,000 shares of Cybin stock. The stock was bought at an average cost of $11.59 per share, with a total value of $1,043,100.00.

Cybin Trading Up 10.4%

Shares of NASDAQ HELP opened at $13.68 on Thursday. The firm has a market capitalization of $1.03 billion, a P/E ratio of -4.53 and a beta of 0.63. The firm’s 50-day moving average price is $9.70 and its 200-day moving average price is $6.81. Cybin Inc. has a 1-year low of $3.76 and a 1-year high of $14.35.

Cybin (NASDAQ:HELP) last issued its earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Equities research analysts forecast that Cybin Inc. will post -2.95 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HELP shares. Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. TD Cowen boosted their price target on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company initiated coverage on shares of Cybin in a report on Monday, July 27th. They set an “overweight” rating and a $16.00 price objective on the stock. Five 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 target price of $48.60.

Institutional Trading of Cybin

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares in the last quarter. Pale Fire Capital SE purchased a new stake in Cybin in the 2nd quarter valued at $1,015,000. Bank of America Corp DE raised its position in Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after buying an additional 11,790 shares during the last quarter. AXQ Capital LP bought a new position in Cybin during the 2nd quarter valued at $75,000. Finally, Osaic Holdings Inc. lifted its stake in Cybin by 46.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after acquiring an additional 2,400 shares in the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

About Cybin

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.