Cybin Inc. (NASDAQ:HELP) Receives Average Recommendation of “Buy” from Analysts

Shares of Cybin Inc. (NASDAQ:HELP) have received a consensus rating of “Buy” from the five analysts that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $45.25.

Several research analysts recently commented on the company. TD Cowen began coverage on Cybin in a research report on Monday, April 13th. They set a “buy” rating for the company. Wells Fargo & Company initiated coverage on Cybin in a research note on Monday. They set an “overweight” rating and a $16.00 price objective on the stock.

Cybin Stock Up 5.0%

Shares of NASDAQ HELP traded up $0.38 during mid-day trading on Monday, hitting $8.00. The company had a trading volume of 190,882 shares, compared to its average volume of 1,075,314. The company has a market cap of $558.96 million, a P/E ratio of -1.89 and a beta of 0.62. The company has a 50-day moving average price of $5.47. Cybin has a one year low of $3.76 and a one year high of $9.12.

Institutional Trading of Cybin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after acquiring an additional 2,400 shares during the last quarter. Bank of America Corp DE lifted its stake in 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 purchasing an additional 11,790 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Cybin by 1,388.5% during the fourth 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 period. 17.94% of the stock is owned by institutional investors.

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.