Cybin (NASDAQ:HELP) Upgraded to Sell at Wall Street Zen

Cybin (NASDAQ:HELP) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

HELP has been the subject of a number of other reports. Wells Fargo & Company started coverage on Cybin in a research report on Monday, July 27th. They issued an “overweight” rating and a $16.00 target price for the company. TD Cowen lifted their price target on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Cybin has a consensus rating of “Buy” and an average price target of $48.60.

Cybin Stock Down 8.0%

HELP traded down $1.06 on Friday, reaching $12.18. The company had a trading volume of 1,452,450 shares, compared to its average volume of 1,941,074. Cybin has a 1 year low of $3.76 and a 1 year high of $14.35. The stock has a market capitalization of $889.87 million, a PE ratio of -4.03 and a beta of 0.55. The stock has a 50-day moving average price of $8.69 and a 200-day moving average price of $6.48.

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 the consensus estimate of ($0.80) by ($0.11). As a group, analysts expect that Cybin will post -2.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised 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 buying an additional 2,400 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Cybin during the second quarter worth about $75,000. Bank of America Corp DE grew its holdings 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 buying an additional 11,790 shares during the last quarter. Pale Fire Capital SE purchased a new position in shares of Cybin during the second quarter worth about $1,015,000. Finally, Millennium Management LLC increased its position in Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after acquiring an additional 959,448 shares during the period. 17.94% of the stock is currently owned by institutional investors and hedge funds.

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.