Cybin (NASDAQ:HELP) Price Target Raised to $22.00

Cybin (NASDAQ:HELP) had its price objective increased by Wells Fargo & Company from $16.00 to $22.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Barclays began coverage on shares of Cybin in a research report on Friday, September 18th. They issued an “overweight” rating and a $35.00 price target for the company. Wall Street Zen upgraded shares of Cybin from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Finally, TD Cowen lifted their price objective on shares of Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $47.33.

Cybin Trading Down 3.0%

NASDAQ:HELP opened at $10.19 on Thursday. The company has a market cap of $813.26 million, a price-to-earnings ratio of -3.37 and a beta of 0.53. Cybin has a twelve month low of $3.76 and a twelve month high of $15.15. The stock has a fifty day simple moving average of $12.09 and a 200-day simple moving average of $8.19.

Cybin (NASDAQ:HELP) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). As a group, equities research analysts predict that Cybin will post -2.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Cybin news, insider Paul Glavine bought 100,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were purchased at an average cost of $12.47 per share, for a total transaction of $1,247,000.00. Following the transaction, the insider directly owned 4,271,252 shares of the company’s stock, valued at approximately $53,262,512.44. The trade was a 2.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Greg Cavers acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was acquired at an average price of $12.91 per share, with a total value of $38,730.00. Following the completion of the transaction, the chief financial officer directly owned 3,000 shares of the company’s stock, valued at approximately $38,730. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 688,000 shares of company stock worth $8,422,830. Corporate insiders own 15.00% of the company’s stock.

Institutional Trading of Cybin

A number of institutional investors have recently made changes to their positions in the company. WealthPlan Investment Management LLC acquired a new stake in shares of Cybin in the third quarter valued at approximately $1,272,000. Pale Fire Capital SE acquired a new stake in shares of Cybin in the 2nd quarter worth $1,015,000. Farther Finance Advisors LLC raised its holdings in shares of Cybin by 927.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after acquiring an additional 20,597 shares during the period. Finally, AXQ Capital LP purchased a new position in shares of Cybin during the 2nd quarter worth $75,000. 17.94% of the stock is owned by institutional investors and hedge funds.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research programs are designed to address disorders such as major depressive disorder and other conditions where existing treatments may not provide adequate relief.

Cybin’s development platform has included investigational compounds such as CYB003, a deuterated psilocybin analog being studied for depression, and CYB004, an investigational N,N-dimethyltryptamine (DMT) formulation being evaluated for potential use in mental health treatment.