Cybin Inc. (NASDAQ:HELP – Get Free Report)’s stock price was up 8.3% during trading on Wednesday . The stock traded as high as $11.04 and last traded at $10.9320. 358,975 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,137,816 shares. The stock had previously closed at $10.09.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company began coverage on shares of Cybin in a research report on Monday, July 27th. They set an “overweight” rating and a $16.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $45.25.
Check Out Our Latest Stock Report on HELP
Cybin Price Performance
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of HELP. Millennium Management LLC lifted its holdings in Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after buying an additional 959,448 shares in the last quarter. Osaic Holdings Inc. boosted its position in Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after buying an additional 2,400 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of 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 period. Institutional investors own 17.94% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Cybin
- Intel’s Rally Gave It a $20 Billion Opportunity and Now Comes the Hard Part
- Visa’s AI Opportunity Is Hiding in Every Transaction
- On Holding’s Price Stumble May Be an Opening for a Company Built to Run
- TSMC’s 44.7% Sales Surge Signals the AI Boom Is Still Alive
Receive News & Ratings for Cybin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cybin and related companies with MarketBeat.com's FREE daily email newsletter.
