Cybin (NASDAQ:HELP) Insider Paul Glavine Purchases 100,000 Shares

Cybin Inc. (NASDAQ:HELP) insider Paul Glavine purchased 100,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were acquired at an average price of $11.78 per share, for a total transaction of $1,178,000.00. Following the completion of the purchase, the insider directly owned 4,171,252 shares of the company’s stock, valued at approximately $49,137,348.56. This trade represents a 2.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Paul Glavine also recently made the following trade(s):

• On Monday, August 31st, Paul Glavine purchased 90,000 shares of Cybin stock. The shares were acquired at an average cost of $11.59 per share, for a total transaction of $1,043,100.00.

Cybin Stock Performance

NASDAQ HELP opened at $12.84 on Friday. The firm has a 50 day simple moving average of $9.84 and a 200-day simple moving average of $6.85. Cybin Inc. has a one year low of $3.76 and a one year high of $14.35. The firm has a market cap of $970.83 million, a price-to-earnings ratio of -4.25 and a beta of 0.63.

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

Institutional Investors Weigh In On Cybin

A number of large investors have recently modified their holdings of HELP. Osaic Holdings Inc. raised 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 purchasing an additional 2,400 shares in the last quarter. AXQ Capital LP acquired a new position in shares of Cybin during the second quarter worth $75,000. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 11,790 shares in the last quarter. Pale Fire Capital SE purchased a new position in Cybin in the second quarter valued at $1,015,000. Finally, Millennium Management LLC increased its holdings in Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after buying an additional 959,448 shares during the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Cybin

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.

Analysts Set New Price Targets

HELP has been the topic of several analyst reports. 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 objective on the stock. Wall Street Zen raised Cybin from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, TD Cowen upped their price target on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently 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.