Cybin (NYSEAMERICAN:CYBN) Stock Price Up 1.7% – Here’s What Happened

Shares of Cybin Inc. (NYSEAMERICAN:CYBN) were up 1.7% on Friday . The stock traded as high as $8.38 and last traded at $8.3210. Approximately 717,263 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 865,350 shares. The stock had previously closed at $8.18.

Analyst Ratings Changes

Separately, Guggenheim increased their price target on Cybin from $39.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $59.00.

Cybin Trading Up 1.7%

The company has a current ratio of 8.58, a quick ratio of 8.58 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $7.92 and a 200-day moving average price of $6.97. The firm has a market capitalization of $209.61 million, a PE ratio of -2.14 and a beta of 0.64.

Institutional Investors Weigh In On Cybin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cowa LLC boosted its position in shares of Cybin by 12.8% during the 2nd quarter. Cowa LLC now owns 13,200 shares of the company’s stock worth $111,000 after purchasing an additional 1,500 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after purchasing an additional 2,400 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Cybin by 66.8% in the second 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 during the period. AdvisorShares Investments LLC boosted its holdings in Cybin by 46.4% during the second quarter. AdvisorShares Investments LLC now owns 88,383 shares of the company’s stock worth $742,000 after buying an additional 28,000 shares in the last quarter. Finally, Bollard Group LLC acquired a new position in Cybin during the second quarter worth about $1,317,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of psychedelic-based therapeutics for the treatment of mental health disorders. Founded in 2019 and headquartered in Toronto, Canada, the company is pioneering novel drug candidates designed to improve safety and efficacy over naturally occurring psychedelics. Cybin’s research emphasizes proprietary formulations and delivery methods to optimize bioavailability and patient experience.

The company’s pipeline includes multiple investigational products, such as sublingual psilocybin analogs, deuterated tryptamines, and other small-molecule derivatives.