Cybin (NASDAQ:HELP) Research Coverage Started at Barclays

Barclays initiated coverage on shares of Cybin (NASDAQ:HELP) in a report released on Friday morning,Benzinga reports. The brokerage issued an overweight rating and a $35.00 price target on the stock.

A number of other brokerages have also recently issued reports on HELP. Wells Fargo & Company assumed coverage on Cybin in a report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price on the stock. Wall Street Zen upgraded Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, TD Cowen lifted their price target on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Cybin currently has a consensus rating of “Buy” and an average target price of $46.33.

Cybin Price Performance

HELP stock opened at $12.37 on Friday. Cybin has a 12 month low of $3.76 and a 12 month high of $15.15. The firm has a market cap of $973.67 million, a PE ratio of -4.10 and a beta of 0.63. The firm has a 50 day simple moving average of $10.67 and a 200 day simple moving average of $7.10.

Cybin (NASDAQ:HELP) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). As a group, sell-side analysts expect that Cybin will post -2.95 earnings per share for the current year.

Insider Buying and Selling at Cybin

In other Cybin news, insider Paul Glavine purchased 100,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were acquired at an average price of $12.47 per share, for a total transaction of $1,247,000.00. Following the completion of the acquisition, the insider owned 4,271,252 shares of the company’s stock, valued at $53,262,512.44. This represents a 2.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric H. L. So purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average cost of $12.39 per share, for a total transaction of $1,239,000.00. Following the completion of the transaction, the insider directly owned 4,465,014 shares of the company’s stock, valued at $55,321,523.46. This trade represents a 2.29% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 585,000 shares of company stock valued at $7,037,100. 15.00% of the stock is currently owned by insiders.

Institutional Trading of Cybin

A hedge fund recently bought a new position in Cybin stock. AXQ Capital LP bought a new stake in shares of Cybin Inc. (NASDAQ:HELP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,315 shares of the company’s stock, valued at approximately $75,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.