Cybin (NASDAQ:HELP) Posts Earnings Results

Cybin (NASDAQ:HELP) posted its earnings results on Monday. The company reported $999.00 earnings per share (EPS) for the quarter, Zacks reports.

Cybin Stock Up 4.7%

Shares of HELP opened at $6.78 on Monday. Cybin has a fifty-two week low of $3.76 and a fifty-two week high of $9.83. The business’s 50-day simple moving average is $4.86. The firm has a market capitalization of $350.43 million, a P/E ratio of -1.60 and a beta of 0.74.

Wall Street Analysts Forecast Growth

HELP has been the subject of a number of analyst reports. TD Cowen began coverage on shares of Cybin in a report on Monday, April 13th. They issued a “buy” rating for the company. HC Wainwright boosted their target price on shares of Cybin from $55.00 to $95.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $58.75.

Hedge Funds Weigh In On Cybin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position 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 in the last quarter. Osaic Holdings Inc. grew its stake in shares of Cybin by 46.7% during 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 period. Finally, Bank of America Corp DE grew its holdings in shares of Cybin by 66.8% during the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares during the period. Institutional investors and hedge funds 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.