Insider Buying: Cybin (NASDAQ:HELP) CEO Acquires $1,347,000.00 in Stock

Cybin Inc. (NASDAQ:HELP) CEO Michael Halstead purchased 100,000 shares of the stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of $13.47 per share, for a total transaction of $1,347,000.00. Following the completion of the acquisition, the chief executive officer owned 168,568 shares of the company’s stock, valued at approximately $2,270,610.96. This represents a 145.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cybin Stock Performance

NASDAQ HELP opened at $13.02 on Thursday. Cybin Inc. has a one year low of $3.76 and a one year high of $15.15. The stock has a 50-day moving average of $11.08 and a 200 day moving average of $7.22. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.31 and a beta of 0.63.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Cybin stock. Pale Fire Capital SE bought a new position in Cybin Inc. (NASDAQ:HELP) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 153,505 shares of the company’s stock, valued at approximately $1,015,000. Pale Fire Capital SE owned 0.21% of Cybin as of its most recent filing with the SEC. Institutional investors own 17.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HELP shares. Wall Street Zen raised shares of Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Barclays initiated coverage on Cybin in a report on Friday, September 18th. They set an “overweight” rating and a $35.00 price target on the stock. Wells Fargo & Company started coverage on Cybin in a research note on Monday, July 27th. They issued an “overweight” rating and a $16.00 price target on the stock. Finally, TD Cowen upped their price objective on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $46.33.

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.