Cybin (NYSE:CYBN) Stock Rating Reaffirmed by HC Wainwright

Cybin (NYSE:CYBN)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $5.00 price objective on the stock.

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Cybin in a research note on Friday, June 21st.

Cybin Price Performance

Shares of NYSE:CYBN opened at $0.27 on Wednesday. The stock has a 50 day moving average price of $0.29. The firm has a market capitalization of $112.37 million, a price-to-earnings ratio of -1.37 and a beta of 0.43. Cybin has a 1 year low of $0.25 and a 1 year high of $0.74.

Cybin (NYSE:CYBN) last released its quarterly earnings data on Wednesday, June 26th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). On average, analysts forecast that Cybin will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On Cybin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYBN. PEAK6 Investments LLC purchased a new stake in Cybin in the first quarter valued at $95,000. AWM Investment Company Inc. purchased a new stake in Cybin in the first quarter valued at $930,000. Rosalind Advisors Inc. raised its position in Cybin by 38.3% in the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after purchasing an additional 5,340,000 shares during the period. Ikarian Capital LLC purchased a new stake in Cybin in the first quarter valued at $5,770,000. Finally, RA Capital Management L.P. purchased a new stake in Cybin in the first quarter valued at $24,041,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

Cybin Inc is a biotechnology company. It is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. Cybin Inc is based in Toronto, Canada.