Cybin (OTCMKTS:CYBN) Stock Price Down 2.7%

Shares of Cybin Inc. (OTCMKTS:CYBN) were down 2.7% during mid-day trading on Thursday . The company traded as low as $0.25 and last traded at $0.26. Approximately 10,370,205 shares changed hands during mid-day trading, an increase of 119% from the average daily volume of 4,725,861 shares. The stock had previously closed at $0.26.

Analyst Ratings Changes

Separately, Bloom Burton restated a “buy” rating on shares of Cybin in a research note on Thursday, May 2nd.

Cybin Trading Up 2.5 %

The stock has a market capitalization of $111.34 million, a price-to-earnings ratio of -1.35 and a beta of 0.50. The stock has a 50-day moving average price of $0.32 and a 200 day moving average price of $0.36.

Institutional Investors Weigh In On Cybin

A hedge fund recently raised its stake in Cybin stock. Nadler Financial Group Inc. raised its position in Cybin Inc. (OTCMKTS:CYBN) by 125.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,700 shares of the company’s stock after buying an additional 55,000 shares during the period. Nadler Financial Group Inc.’s holdings in Cybin were worth $41,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.