Cybin (NYSEAMERICAN:CYBN) Trading Up 2% – Time to Buy?

Cybin Inc. (NYSEAMERICAN:CYBN) shares were up 2% during trading on Thursday . The stock traded as high as $6.15 and last traded at $6.07. Approximately 879,432 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 1,070,508 shares. The stock had previously closed at $5.95.

Cybin Stock Performance

The stock’s 50 day moving average price is $6.27 and its 200 day moving average price is $7.11. The company has a current ratio of 9.87, a quick ratio of 9.87 and a debt-to-equity ratio of 0.29. The company has a market cap of $152.90 million, a price-to-earnings ratio of -1.32 and a beta of 0.66.

Hedge Funds Weigh In On Cybin

Large investors have recently bought and sold shares of the stock. National Bank of Canada FI grew its stake in shares of Cybin by 3,546.5% during the 1st quarter. National Bank of Canada FI now owns 5,251 shares of the company’s stock valued at $33,000 after buying an additional 5,107 shares during the period. Osaic Holdings Inc. raised its position in shares of Cybin by 46.7% in the 2nd 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. Cowa LLC boosted its holdings in Cybin by 12.8% in the second quarter. Cowa LLC now owns 13,200 shares of the company’s stock valued at $111,000 after acquiring an additional 1,500 shares during the last quarter. PEAK6 LLC purchased a new stake in Cybin during the first quarter valued at about $167,000. Finally, Bank of America Corp DE increased its stake in 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 acquiring an additional 11,790 shares during the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company’s development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.