Eric So Purchases 95,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELP) insider Eric So acquired 95,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average price of $11.80 per share, for a total transaction of $1,121,000.00. Following the completion of the acquisition, the insider owned 4,265,014 shares in the company, valued at approximately $50,327,165.20. This trade represents a 2.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cybin Price Performance

NASDAQ HELP opened at $12.84 on Friday. Cybin Inc. has a 1-year low of $3.76 and a 1-year high of $14.35. The firm has a market capitalization of $970.83 million, a P/E ratio of -4.25 and a beta of 0.63. The business’s 50-day simple moving average is $9.84 and its 200-day simple moving average is $6.85.

Cybin (NASDAQ:HELP) last announced its quarterly earnings results 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). On average, equities research analysts expect that Cybin Inc. will post -2.95 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Cybin

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of Cybin by 1,388.5% in 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 in the last quarter. Pale Fire Capital SE acquired a new stake in Cybin during the 2nd quarter worth about $1,015,000. Bank of America Corp DE boosted 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 purchasing an additional 11,790 shares during the period. AXQ Capital LP purchased a new position in shares of Cybin during the 2nd quarter valued at $75,000. Finally, Osaic Holdings Inc. grew its stake in 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. Institutional investors own 17.94% of the company’s stock.

Cybin News Summary

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.

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.