Pale Fire Capital SE bought a new position in Cybin Inc. (NASDAQ:HELP – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 153,505 shares of the company’s stock, valued at approximately $1,015,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HELP. Millennium Management LLC grew its position in Cybin by 1,388.5% during the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after acquiring an additional 959,448 shares during the period. Bank of America Corp DE lifted its stake in shares of Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after purchasing an additional 11,790 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Cybin by 46.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 17.94% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on HELP shares. Wall Street Zen raised shares of Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. TD Cowen boosted their price objective on shares of Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company initiated coverage on shares of Cybin in a research note on Monday, July 27th. They set an “overweight” rating and a $16.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Cybin currently has an average rating of “Buy” and a consensus target price of $48.60.
Cybin Stock Performance
HELP stock opened at $11.95 on Thursday. Cybin Inc. has a 1 year low of $3.76 and a 1 year high of $14.35. The firm has a market cap of $873.07 million, a P/E ratio of -3.96 and a beta of 0.63. The stock has a 50-day simple moving average of $9.10 and a 200-day simple moving average of $6.60.
Cybin (NASDAQ:HELP – Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). On average, equities research analysts predict that Cybin Inc. will post -2.95 EPS for the current year.
About Cybin
Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.
The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.
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