Cybin Inc. (NASDAQ:HELP – Get Free Report) shares were up 8.8% on Tuesday . The company traded as high as $7.82 and last traded at $7.7360. 706,854 shares were traded during mid-day trading, a decline of 32% from the average session volume of 1,035,549 shares. The stock had previously closed at $7.11.
Wall Street Analysts Forecast Growth
Separately, TD Cowen initiated coverage on Cybin in a research report on Monday, April 13th. They set a “buy” rating on the stock. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $55.00.
Check Out Our Latest Analysis on HELP
Cybin Price Performance
Institutional Trading of Cybin
Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its holdings in shares of Cybin by 46.7% in the second 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. Bank of America Corp DE increased its holdings in Cybin by 66.8% during the 2nd 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 during the period. Finally, Millennium Management LLC increased its holdings in Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after purchasing an additional 959,448 shares during the period. Institutional investors and hedge funds 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.
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