Cybin’s (CYBN) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Cybin (NYSE:CYBN) in a report released on Wednesday, Benzinga reports.

Separately, HC Wainwright reissued a buy rating and issued a $5.00 target price on shares of Cybin in a research note on Wednesday.

Cybin Stock Performance

Shares of CYBN opened at $0.27 on Wednesday. The company has a market capitalization of $110.93 million, a PE ratio of -1.35 and a beta of 0.43. The stock’s 50-day moving average is $0.29. Cybin has a 1 year low of $0.25 and a 1 year high of $0.74.

Cybin (NYSE:CYBN) last issued its earnings results on Wednesday, June 26th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Equities analysts expect that Cybin will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. acquired a new position in shares of Cybin during the 1st quarter worth about $24,041,000. Ikarian Capital LLC acquired a new position in Cybin in the 1st quarter valued at about $5,770,000. Rosalind Advisors Inc. raised its holdings in Cybin by 38.3% in the 2nd quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after acquiring an additional 5,340,000 shares during the period. AWM Investment Company Inc. bought a new stake in shares of Cybin during the first quarter worth approximately $930,000. Finally, PEAK6 Investments LLC acquired a new position in shares of Cybin in the first quarter valued at approximately $95,000. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

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.