Cybin (NASDAQ:HELP) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Cybin (NASDAQ:HELP) from a strong sell rating to a sell rating in a research note published on Sunday morning,Wall Street Zen reports.

HELP has been the topic of a number of other research reports. Barclays started coverage on shares of Cybin in a report on Friday, September 18th. They set an “overweight” rating and a $35.00 target price on the stock. TD Cowen upped their target price on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Wells Fargo & Company increased their price target on shares of Cybin from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $47.33.

Cybin Price Performance

Shares of NASDAQ:HELP opened at $10.19 on Friday. Cybin has a 1 year low of $3.76 and a 1 year high of $15.15. The company has a market cap of $813.26 million, a PE ratio of -3.37 and a beta of 0.53. The stock’s 50-day moving average is $12.09 and its 200 day moving average is $8.21.

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

Insider Buying and Selling

In related news, CFO Greg Cavers acquired 3,000 shares of the stock in a transaction on Tuesday, September 29th. The stock was acquired at an average price of $12.91 per share, for a total transaction of $38,730.00. Following the completion of the purchase, the chief financial officer owned 3,000 shares of the company’s stock, valued at $38,730. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Halstead bought 100,000 shares of the company’s stock in a transaction on Monday, September 21st. The stock was bought at an average cost of $13.47 per share, for a total transaction of $1,347,000.00. Following the completion of the acquisition, the chief executive officer directly owned 168,568 shares of the company’s stock, valued at approximately $2,270,610.96. This represents a 145.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 688,000 shares of company stock worth $8,422,830 in the last 90 days. Corporate insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Cybin

Institutional investors have recently modified their holdings of the stock. AXQ Capital LP purchased a new position in Cybin in the 2nd quarter worth approximately $75,000. Farther Finance Advisors LLC boosted its stake in Cybin by 927.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after purchasing an additional 20,597 shares during the last quarter. WealthPlan Investment Management LLC purchased a new stake in Cybin during the 3rd quarter valued at $1,272,000. Finally, Pale Fire Capital SE purchased a new stake in Cybin during the 2nd quarter valued at $1,015,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.