Cybin (NASDAQ:HELP) Insider Paul Glavine Purchases 90,000 Shares of Stock

Cybin Inc. (NASDAQ:HELP) insider Paul Glavine bought 90,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average cost of $11.59 per share, for a total transaction of $1,043,100.00. Following the transaction, the insider owned 4,071,252 shares of the company’s stock, valued at $47,185,810.68. The trade was a 2.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Cybin Price Performance

HELP opened at $13.68 on Thursday. Cybin Inc. has a 1 year low of $3.76 and a 1 year high of $14.35. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.53 and a beta of 0.63. The firm’s fifty day moving average price is $9.70 and its two-hundred day moving average price is $6.81.

Cybin (NASDAQ:HELP) last released its quarterly earnings results 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). As a group, equities analysts anticipate that Cybin Inc. will post -2.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HELP shares. Wells Fargo & Company assumed coverage on Cybin in a report on Monday, July 27th. They set an “overweight” rating and a $16.00 price target on the stock. TD Cowen boosted their price target on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Wall Street Zen upgraded shares of Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Cybin currently has a consensus rating of “Buy” and an average price target of $48.60.

Institutional Investors Weigh In On Cybin

Several institutional investors have recently made changes to their positions in the stock. Pale Fire Capital SE bought a new position in shares of Cybin in the second quarter worth $1,015,000. Millennium Management LLC grew its position in shares of 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 purchasing an additional 959,448 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Cybin by 46.7% during 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 during the period. Bank of America Corp DE raised its stake in shares of Cybin by 66.8% during 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 period. Finally, AXQ Capital LP purchased a new stake in Cybin during the 2nd quarter worth about $75,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.