Cybin (NYSE:CYBN) Now Covered by Guggenheim

Guggenheim began coverage on shares of Cybin (NYSE:CYBN) in a research note released on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $35.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. HC Wainwright cut their price target on Cybin from $190.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group decreased their price target on Cybin from $86.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th.

Cybin Trading Down 0.5 %

NYSE CYBN opened at $7.30 on Thursday. The firm has a 50 day moving average of $9.03. Cybin has a 12 month low of $6.50 and a 12 month high of $18.05. The firm has a market cap of $156.78 million, a P/E ratio of -1.67 and a beta of 0.50.

Institutional Trading of Cybin

Large investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of Cybin during the fourth quarter valued at about $46,000. Marshall Wace LLP bought a new stake in Cybin in the fourth quarter worth approximately $94,000. Cowa LLC bought a new stake in Cybin in the fourth quarter worth approximately $115,000. Essential Planning LLC. bought a new stake in shares of Cybin during the fourth quarter valued at approximately $138,000. Finally, Diametric Capital LP bought a new stake in shares of Cybin during the fourth quarter valued at approximately $157,000. 17.94% of the stock is owned by institutional investors and hedge funds.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company’s development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.