Cybin Inc. (NASDAQ:HELP) Stock Rated “Buy” by Sell-Side Analysts

Shares of Cybin Inc. (NASDAQ:HELP) have been assigned an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $46.33.

A number of equities analysts recently weighed in on HELP shares. 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. TD Cowen increased their target price 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. Barclays started coverage on shares of Cybin in a research note on Friday, September 18th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday.

Insiders Place Their Bets

In other Cybin news, CFO Greg Cavers acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was bought at an average price of $12.91 per share, for a total transaction of $38,730.00. Following the acquisition, the chief financial officer directly owned 3,000 shares in the company, valued at $38,730. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Halstead acquired 100,000 shares of the business’s stock in a transaction on Monday, September 21st. The stock was acquired at an average cost of $13.47 per share, for a total transaction of $1,347,000.00. Following the transaction, the chief executive officer directly owned 168,568 shares in the company, valued at $2,270,610.96. The trade was a 145.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 688,000 shares of company stock valued at $8,422,830 over the last quarter. 15.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HELP. AXQ Capital LP purchased a new stake in Cybin in the 2nd quarter valued at about $75,000. Farther Finance Advisors LLC raised its stake in shares of Cybin by 927.4% during the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after acquiring an additional 20,597 shares in the last quarter. WealthPlan Investment Management LLC purchased a new stake in shares of Cybin in the third quarter valued at approximately $1,272,000. Finally, Pale Fire Capital SE purchased a new stake in shares of Cybin in the second quarter valued at approximately $1,015,000. 17.94% of the stock is currently owned by institutional investors.

Cybin Trading Down 4.5%

Cybin stock traded down $0.50 during trading on Friday, reaching $10.55. The company had a trading volume of 1,311,365 shares, compared to its average volume of 1,756,087. The firm has a market capitalization of $842.00 million, a price-to-earnings ratio of -3.49 and a beta of 0.53. The firm’s 50-day simple moving average is $12.13 and its 200 day simple moving average is $7.99. Cybin has a 52 week low of $3.76 and a 52 week high of $15.15.

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

About Cybin

Cybin Inc is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company combines psychedelic compounds with drug-delivery technologies and treatment protocols designed to improve the safety, consistency and duration of psychedelic-assisted therapies.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin therapy being studied for major depressive disorder, and CYB004, an investigational formulation of N,N-dimethyltryptamine (DMT) being evaluated for generalized anxiety disorder.