17,819 Shares in Cybin Inc. (NYSE:CYBN) Bought by Diametric Capital LP

Diametric Capital LP purchased a new stake in shares of Cybin Inc. (NYSE:CYBN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,819 shares of the company’s stock, valued at approximately $157,000. Diametric Capital LP owned approximately 0.09% of Cybin as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Cybin during the fourth quarter valued at approximately $46,000. Cowa LLC bought a new stake in Cybin in the fourth quarter valued at approximately $115,000. Fore Capital LLC lifted its position 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 during the last quarter. Finally, Essential Planning LLC. bought a new position in shares of Cybin in the fourth quarter worth approximately $138,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Cybin Stock Performance

NYSE:CYBN opened at $6.26 on Thursday. Cybin Inc. has a 12 month low of $5.73 and a 12 month high of $17.86. The stock has a 50-day moving average of $8.36. The stock has a market cap of $134.45 million, a PE ratio of -1.43 and a beta of 0.61.

Analyst Ratings Changes

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

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.