PEAK6 Investments LLC Trims Stock Holdings in Cybin Inc. (NYSE:CYBN)

PEAK6 Investments LLC lowered its stake in shares of Cybin Inc. (NYSE:CYBN) by 97.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,370 shares of the company’s stock after selling 420,512 shares during the period. PEAK6 Investments LLC owned 0.06% of Cybin worth $101,000 as of its most recent SEC filing.

Separately, Sanctuary Advisors LLC acquired a new stake in shares of Cybin during the second quarter worth $36,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on CYBN shares. Canaccord Genuity Group dropped their target price on Cybin from $96.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $190.00 target price on shares of Cybin in a research report on Monday, November 18th.

Cybin Trading Up 2.0 %

CYBN stock opened at $10.64 on Friday. The firm has a market cap of $212.69 million, a P/E ratio of -1.60 and a beta of 0.39. The business’s fifty day moving average price is $10.28. Cybin Inc. has a 52 week low of $6.50 and a 52 week high of $19.85.

Cybin Company 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.