Cybin (NYSE:CYBN) Sees Large Volume Increase

Cybin Inc. (NYSE:CYBN) shares saw an uptick in trading volume on Monday . 81,682 shares were traded during trading, a decline of 39% from the previous session’s volume of 134,133 shares.The stock last traded at $9.37 and had previously closed at $9.18.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CYBN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cybin in a research note on Wednesday, July 31st. Canaccord Genuity Group cut their price target on shares of Cybin from $114.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Cybin in a research note on Friday, August 23rd.

Cybin Price Performance

The firm has a market cap of $3.90 billion, a P/E ratio of -47.45 and a beta of 0.42. The stock’s 50 day simple moving average is $0.60.

Cybin (NYSE:CYBN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter. On average, analysts forecast that Cybin Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CYBN. Sanctuary Advisors LLC acquired a new position in shares of Cybin during the second quarter worth about $36,000. AdvisorShares Investments LLC raised its position in shares of Cybin by 13.4% in the second quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company’s stock valued at $494,000 after buying an additional 220,403 shares during the last quarter. Rosalind Advisors Inc. raised its position in shares of 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 last quarter. RA Capital Management L.P. acquired a new position in Cybin during the first quarter worth approximately $24,041,000. Finally, Ikarian Capital LLC acquired a new position in Cybin during the first quarter worth approximately $5,770,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

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.