Cybin (NYSE:CYBN) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of Cybin (NYSE:CYBN) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $5.00 target price on the stock. HC Wainwright also issued estimates for Cybin’s FY2029 earnings at $0.25 EPS.

Separately, Cantor Fitzgerald reissued an overweight rating on shares of Cybin in a research report on Friday, June 21st.

Cybin Stock Performance

Shares of CYBN stock opened at $0.27 on Wednesday. Cybin has a 12 month low of $0.25 and a 12 month high of $0.74. The stock has a fifty day simple moving average of $0.29. The company has a market capitalization of $110.93 million, a price-to-earnings ratio of -1.35 and a beta of 0.43.

Cybin (NYSE:CYBN) last issued its quarterly earnings results on Wednesday, June 26th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). As a group, equities analysts predict that Cybin will post -0.09 EPS for the current year.

Institutional Trading of Cybin

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYBN. PEAK6 Investments LLC bought a new position in shares of Cybin in the 1st quarter valued at about $95,000. AWM Investment Company Inc. acquired a new stake in Cybin in the 1st quarter valued at about $930,000. Ikarian Capital LLC bought a new position in Cybin during the first quarter worth about $5,770,000. RA Capital Management L.P. acquired a new position in Cybin during the first quarter worth approximately $24,041,000. Finally, Rosalind Advisors Inc. raised its stake in Cybin by 38.3% in the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after buying an additional 5,340,000 shares during the period. 17.94% of the stock is owned by institutional investors.

Cybin Company Profile

Cybin Inc is a biotechnology company. It is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. Cybin Inc is based in Toronto, Canada.