Rosalind Advisors Inc. Has $7.15 Million Position in Cybin Inc. (NYSE:CYBN)

Rosalind Advisors Inc. lessened its stake in Cybin Inc. (NYSE:CYBN) by 24.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 810,918 shares of the company’s stock after selling 264,187 shares during the quarter. Cybin accounts for about 3.6% of Rosalind Advisors Inc.’s holdings, making the stock its 11th biggest position. Rosalind Advisors Inc. owned approximately 3.86% of Cybin worth $7,152,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in shares of Cybin during the 4th quarter valued at $46,000. Cowa LLC acquired a new stake in Cybin during the fourth quarter valued at $115,000. Fore Capital LLC grew its stake in Cybin by 70.6% in the fourth quarter. Fore Capital LLC now owns 31,421 shares of the company’s stock valued at $277,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Essential Planning LLC. acquired a new position in Cybin in the 4th quarter worth about $138,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CYBN shares. Canaccord Genuity Group lowered their price target on Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. HC Wainwright cut their price target on Cybin from $190.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Guggenheim started coverage on Cybin in a research report on Thursday, March 13th. They issued a “buy” rating and a $35.00 target price for the company.

Cybin Stock Down 0.8 %

CYBN opened at $7.31 on Friday. The firm has a market cap of $157.00 million, a PE ratio of -1.67 and a beta of 0.50. The company has a 50-day moving average of $8.76. Cybin Inc. has a 1-year low of $6.50 and a 1-year high of $17.86.

Cybin Profile

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company’s development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.