Wall Street Zen Upgrades Cybin (NASDAQ:HELP) to Sell

Cybin (NASDAQ:HELP) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday, Wall Street Zen reports.

A number of other brokerages have also recently weighed in on HELP. Wells Fargo & Company boosted their price target on Cybin from $16.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Barclays assumed coverage on Cybin in a report on Friday, September 18th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, TD Cowen increased their price objective on Cybin from $8.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $47.33.

Cybin Stock Performance

Cybin stock opened at $10.36 on Friday. Cybin has a 1-year low of $3.76 and a 1-year high of $15.15. The firm’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $7.67.

Cybin (NASDAQ:HELP) last issued its quarterly earnings data 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, research analysts predict that Cybin will post -2.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Halstead bought 100,000 shares of the stock in a transaction that occurred on 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 purchase, the chief executive officer owned 168,568 shares of the company’s stock, valued at $2,270,610.96. This represents a 145.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Glavine bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average price of $12.47 per share, for a total transaction of $1,247,000.00. Following the acquisition, the insider directly owned 4,271,252 shares in the company, valued at approximately $53,262,512.44. This trade represents a 2.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 688,000 shares of company stock valued at $8,422,830 in the last quarter. 15.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HELP. WealthPlan Investment Management LLC acquired a new stake in shares of Cybin in the third quarter valued at about $1,272,000. Pale Fire Capital SE bought a new position in shares of Cybin in the second quarter worth about $1,015,000. Farther Finance Advisors LLC increased its stake in shares of Cybin by 927.4% in the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock worth $280,000 after purchasing an additional 20,597 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of Cybin during the 2nd quarter worth about $75,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research programs are designed to address disorders such as major depressive disorder and other conditions where existing treatments may not provide adequate relief.

Cybin’s development platform has included investigational compounds such as CYB003, a deuterated psilocybin analog being studied for depression, and CYB004, an investigational N,N-dimethyltryptamine (DMT) formulation being evaluated for potential use in mental health treatment.