Cybin (NYSE:CYBN) Price Target Lowered to $150.00 at HC Wainwright

Cybin (NYSE:CYBN) had its price target trimmed by HC Wainwright from $190.00 to $150.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Canaccord Genuity Group decreased their price objective on Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday.

Cybin Price Performance

Cybin stock opened at $9.47 on Thursday. The firm has a 50-day moving average price of $9.62. The stock has a market cap of $191.77 million, a P/E ratio of -1.42 and a beta of 0.46. Cybin has a fifty-two week low of $6.50 and a fifty-two week high of $19.85.

Hedge Funds Weigh In On Cybin

A number of hedge funds and other institutional investors have recently made changes to their positions in CYBN. Global Retirement Partners LLC acquired a new stake in Cybin during the 4th quarter worth approximately $46,000. Marshall Wace LLP acquired a new stake in shares of Cybin during the fourth quarter worth $94,000. Cowa LLC purchased a new position in Cybin in the 4th quarter valued at $115,000. Essential Planning LLC. acquired a new position in Cybin in the 4th quarter valued at $138,000. Finally, Diametric Capital LP purchased a new position in Cybin during the 4th quarter worth $157,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.