Cybin (NYSE:CYBN) Receives Buy Rating from HC Wainwright

Cybin (NYSE:CYBN)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $190.00 price target on the stock.

Several other equities analysts also recently commented on CYBN. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cybin in a research report on Wednesday, July 31st. Canaccord Genuity Group decreased their target price on Cybin from $96.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Cybin Trading Up 4.1 %

Shares of NYSE CYBN opened at $11.03 on Monday. The stock’s 50 day simple moving average is $9.48. The firm has a market capitalization of $220.49 million, a P/E ratio of -1.69 and a beta of 0.38. Cybin has a twelve month low of $6.50 and a twelve month high of $21.66.

Hedge Funds Weigh In On Cybin

Several institutional investors and hedge funds have recently made changes to their positions in CYBN. Sanctuary Advisors LLC acquired a new stake in Cybin during the second quarter worth approximately $36,000. AdvisorShares Investments LLC grew its position in Cybin by 13.4% during the second quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company’s stock worth $494,000 after buying an additional 220,403 shares in the last quarter. Rosalind Advisors Inc. grew its position in Cybin by 38.3% during the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock worth $5,230,000 after buying an additional 5,340,000 shares in the last quarter. RA Capital Management L.P. acquired a new stake in Cybin during the first quarter worth approximately $24,041,000. Finally, Ikarian Capital LLC acquired a new stake in Cybin during the first quarter worth approximately $5,770,000. 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 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.