Eric So Acquires 100,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELP) insider Eric So purchased 100,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was bought at an average cost of $12.09 per share, with a total value of $1,209,000.00. Following the acquisition, the insider owned 4,365,014 shares of the company’s stock, valued at approximately $52,773,019.26. The trade was a 2.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cybin Stock Performance

Shares of HELP opened at $13.68 on Thursday. Cybin Inc. has a one year low of $3.76 and a one year high of $14.35. The stock has a market cap of $1.03 billion, a P/E ratio of -4.53 and a beta of 0.63. The stock has a 50-day moving average of $9.70 and a two-hundred day moving average of $6.81.

Cybin (NASDAQ:HELP) last released its 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). Analysts predict that Cybin Inc. will post -2.95 EPS for the current fiscal year.

Institutional Trading of Cybin

Several institutional investors and hedge funds have recently bought and sold shares of HELP. Osaic Holdings Inc. boosted its stake in 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 during the period. AXQ Capital LP acquired a new stake in shares of Cybin during the second quarter valued at about $75,000. Bank of America Corp DE raised its stake in shares of Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after acquiring an additional 11,790 shares during the period. Pale Fire Capital SE purchased a new stake in shares of Cybin in the 2nd quarter valued at approximately $1,015,000. Finally, Millennium Management LLC lifted its holdings in shares of Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after acquiring an additional 959,448 shares during the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HELP shares. TD Cowen boosted 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. Wells Fargo & Company started coverage on Cybin in a research report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $48.60.

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.