Cybin (OTCMKTS:CYBN) Price Target Lowered to $55.00 at HC Wainwright

Cybin (OTCMKTS:CYBN) had its price target trimmed by HC Wainwright from $150.00 to $55.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Cybin Stock Down 0.2%

Shares of CYBN traded down $0.01 during trading hours on Friday, hitting $5.93. The company had a trading volume of 461,709 shares, compared to its average volume of 461,460. Cybin has a 52-week low of $4.81 and a 52-week high of $13.88. The stock’s 50 day moving average price is $6.21 and its 200 day moving average price is $7.07. The firm has a market cap of $149.36 million, a P/E ratio of -31.21 and a beta of 0.66.

Institutional Trading of Cybin

A number of institutional investors have recently modified their holdings of CYBN. Rosalind Advisors Inc. boosted its position in Cybin by 85.0% during the 3rd quarter. Rosalind Advisors Inc. now owns 1,500,000 shares of the company’s stock valued at $8,835,000 after acquiring an additional 689,082 shares in the last quarter. UBS Group AG boosted its position in shares of Cybin by 69.3% during the third quarter. UBS Group AG now owns 303,740 shares of the company’s stock valued at $1,789,000 after purchasing an additional 124,297 shares in the last quarter. Knott David M Jr grew its stake in Cybin by 109.7% in the third quarter. Knott David M Jr now owns 140,242 shares of the company’s stock worth $826,000 after purchasing an additional 73,362 shares during the period. AdvisorShares Investments LLC raised its holdings in Cybin by 31.4% in the third quarter. AdvisorShares Investments LLC now owns 116,102 shares of the company’s stock worth $684,000 after purchasing an additional 27,719 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in Cybin during the third quarter valued at $196,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.