HC Wainwright Analysts Lower Earnings Estimates for Cybin Inc. (OTCMKTS:CYBN)

Cybin Inc. (OTCMKTS:CYBNGet Rating) – Equities researchers at HC Wainwright dropped their Q3 2023 earnings per share (EPS) estimates for shares of Cybin in a research report issued to clients and investors on Thursday, November 17th. HC Wainwright analyst P. Trucchio now expects that the company will earn ($0.05) per share for the quarter, down from their prior forecast of ($0.04). HC Wainwright has a “Buy” rating and a $10.00 price objective on the stock. The consensus estimate for Cybin’s current full-year earnings is ($0.28) per share. HC Wainwright also issued estimates for Cybin’s FY2023 earnings at ($0.19) EPS, Q2 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.11) EPS, FY2025 earnings at ($0.08) EPS, FY2026 earnings at ($0.07) EPS and FY2027 earnings at ($0.02) EPS.

Cybin (OTCMKTS:CYBNGet Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01.

Separately, Stifel Nicolaus cut their target price on shares of Cybin from C$8.25 to C$3.00 in a research note on Wednesday, August 24th.

Cybin Trading Down 0.7 %

Shares of OTCMKTS CYBN opened at $0.44 on Monday. The firm has a fifty day simple moving average of $0.54 and a two-hundred day simple moving average of $0.63. Cybin has a 12 month low of $0.39 and a 12 month high of $1.66. The firm has a market capitalization of $77.00 million, a PE ratio of -1.61 and a beta of 1.35.

Institutional Investors Weigh In On Cybin

A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in shares of Cybin by 370.6% during the 1st quarter. Jane Street Group LLC now owns 74,631 shares of the company’s stock valued at $61,000 after purchasing an additional 58,771 shares in the last quarter. Tcwp LLC purchased a new position in shares of Cybin during the first quarter valued at approximately $55,000. Wedbush Securities Inc. purchased a new position in shares of Cybin during the second quarter valued at approximately $40,000. IAG Wealth Partners LLC purchased a new position in shares of Cybin during the second quarter valued at approximately $47,000. Finally, Royal Bank of Canada raised its holdings in shares of Cybin by 926.4% during the third quarter. Royal Bank of Canada now owns 109,239 shares of the company’s stock valued at $52,000 after purchasing an additional 98,596 shares during the last quarter. Institutional investors own 8.78% of the company’s stock.

About Cybin

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Cybin Inc, a biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine for treating anxiety disorders; and CYB005, a phenethylamine derivative to treat neuroinflammation.

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Earnings History and Estimates for Cybin (OTCMKTS:CYBN)

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