Cybin (NASDAQ:HELP) Insider Eric So Purchases 100,000 Shares

Cybin Inc. (NASDAQ:HELP) insider Eric So purchased 100,000 shares of the stock in a transaction dated Friday, September 4th. The shares were purchased at an average cost of $12.09 per share, for a total transaction of $1,209,000.00. Following the transaction, the insider owned 4,365,014 shares in the company, valued at approximately $52,773,019.26. The trade was a 2.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cybin Stock Down 6.1%

NASDAQ:HELP opened at $12.84 on Friday. The company has a market capitalization of $970.83 million, a P/E ratio of -4.25 and a beta of 0.63. Cybin Inc. has a 52 week low of $3.76 and a 52 week high of $14.35. The stock’s fifty day moving average is $9.84 and its two-hundred day moving average is $6.85.

Cybin (NASDAQ:HELP) last posted its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Sell-side analysts anticipate that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cybin

A number of large investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in shares of Cybin by 46.7% in 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. AXQ Capital LP acquired a new stake in shares of Cybin in the second quarter valued at about $75,000. Bank of America Corp DE boosted its holdings 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 buying an additional 11,790 shares in the last quarter. Pale Fire Capital SE acquired a new position in Cybin during the second quarter worth about $1,015,000. Finally, Millennium Management LLC grew its position 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 buying an additional 959,448 shares during the period. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Cybin News Summary

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider buying was notable: Paul Glavine purchased 100,000 shares for approximately $1.18 million, while Eric H. L. So bought 100,000 shares for about $1.21 million. Both increased their direct holdings by more than 2%. Glavine and So also reported earlier purchases of 90,000 and 95,000 shares, respectively, suggesting continued insider confidence. SEC insider purchase filing
• Positive Sentiment: Helus Pharma, Cybin’s commercial name, is scheduled to present at the H.C. Wainwright and Morgan Stanley healthcare conferences. Investor attention may increase because CEO Michael Halstead is expected to discuss the company’s mental-health pipeline, including Phase 3 HLP003 for major depressive disorder and Phase 2 HLP004 for generalized anxiety disorder. Morgan Stanley conference announcement
• Neutral Sentiment: The reported short-interest update shows zero shares short and a zero-day days-to-cover ratio, but it also reports an impossible “NaN” percentage change from the prior period. The data therefore offers little reliable insight into current trading pressure.
• Negative Sentiment: Cybin remains an unprofitable clinical-stage biotechnology company. Its latest quarterly loss of $0.91 per share exceeded the expected $0.80 loss, and analysts anticipate a full-year loss of approximately $2.95 per share. With no new trial results or regulatory approval announced, investors may be taking profits after the stock’s sharp recent rise and reacting to ongoing development and financing risks.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HELP shares. Wells Fargo & Company began coverage on Cybin in a report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price for the company. TD Cowen boosted their price objective on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen raised Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Cybin has a consensus rating of “Buy” and an average price target 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.