Cybin (NASDAQ:HELP) Issues Quarterly Earnings Results, Misses Expectations By $0.74 EPS

Cybin (NASDAQ:HELP) issued its quarterly earnings data on Friday. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.74), FiscalAI reports.

Cybin Price Performance

HELP stock traded up $0.01 during trading hours on Friday, reaching $8.87. 976,721 shares of the stock were exchanged, compared to its average volume of 1,441,180. The firm’s 50-day moving average is $11.24 and its 200-day moving average is $7.81. The company has a market cap of $707.91 million, a price-to-earnings ratio of -2.94 and a beta of 0.64. Cybin has a 12 month low of $3.76 and a 12 month high of $15.15.

Analyst Ratings Changes

Several brokerages have issued reports on HELP. TD Cowen increased their price target on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wells Fargo & Company lifted their price objective on Cybin from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Barclays started coverage on Cybin in a research report on Friday, September 18th. They issued an “overweight” rating and a $35.00 price objective for the company. Finally, Wall Street Zen cut Cybin from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 7th. Six research analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $47.33.

Insider Transactions at Cybin

In other news, insider Eric H. L. So purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were bought at an average cost of $12.39 per share, for a total transaction of $1,239,000.00. Following the completion of the acquisition, the insider directly owned 4,465,014 shares in the company, valued at approximately $55,321,523.46. This trade represents a 2.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Greg Cavers acquired 3,000 shares of Cybin stock in a transaction dated Tuesday, September 29th. The shares were purchased at an average cost of $12.91 per share, with a total value of $38,730.00. Following the completion of the transaction, the chief financial officer directly owned 3,000 shares of the company’s stock, valued at $38,730. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 688,000 shares of company stock worth $8,422,830. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Cybin

A number of large investors have recently bought and sold shares of the company. AXQ Capital LP bought a new position in shares of Cybin during the 2nd quarter worth approximately $75,000. Farther Finance Advisors LLC raised its holdings in shares of Cybin by 927.4% in the third quarter. Farther Finance Advisors LLC now owns 22,818 shares of the company’s stock valued at $280,000 after purchasing an additional 20,597 shares during the last quarter. State Street Corp bought a new stake in shares of Cybin in the third quarter worth $363,000. Pale Fire Capital SE bought a new stake in shares of Cybin in the second quarter worth $1,015,000. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Cybin in the third quarter worth $1,272,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

Cybin, which changed its name to Helus Pharma, is a clinical-stage biopharmaceutical company developing psychedelic-based treatments for mental health conditions. Its research focuses on designing and evaluating investigational compounds intended to address conditions including depression and anxiety disorders. The company’s pipeline has included CYB003, a deuterated psilocin analog being studied for major depressive disorder, and CYB004, an investigational DMT-based treatment studied for generalized anxiety disorder.