Cybin Inc. (NASDAQ:HELP) Receives Consensus Rating of “Buy” from Brokerages

Shares of Cybin Inc. (NASDAQ:HELP) have been assigned a consensus recommendation of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $45.25.

HELP has been the subject of a number of research reports. TD Cowen assumed coverage on shares of Cybin in a research note on Monday, April 13th. They set a “buy” rating for the company. Wells Fargo & Company initiated coverage on shares of Cybin in a research report on Monday. They set an “overweight” rating and a $16.00 price objective for the company.

Hedge Funds Weigh In On Cybin

A number of large investors have recently made changes to their positions in the company. 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 purchasing an additional 959,448 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Cybin by 66.8% during the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after buying an additional 11,790 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Cybin by 46.7% during the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after buying an additional 2,400 shares in the last quarter. Institutional investors own 17.94% of the company’s stock.

Cybin Price Performance

Shares of HELP stock traded up $0.38 during trading on Monday, reaching $8.00. 190,882 shares of the company’s stock were exchanged, compared to its average volume of 1,075,314. Cybin has a twelve month low of $3.76 and a twelve month high of $9.12. The business has a fifty day moving average price of $5.47. The stock has a market capitalization of $558.96 million, a PE ratio of -1.89 and a beta of 0.62.

Cybin Company Profile

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.