Cybin (OTCMKTS:CYBN) Price Target Cut to C$1.50 by Analysts at Stifel Nicolaus

Cybin (OTCMKTS:CYBNGet Rating) had its price objective trimmed by Stifel Nicolaus from C$3.00 to C$1.50 in a report published on Monday morning, The Fly reports.

Separately, HC Wainwright restated a buy rating and issued a $10.00 target price on shares of Cybin in a report on Thursday, November 17th.

Cybin Stock Down 8.0 %

OTCMKTS:CYBN opened at $0.40 on Monday. Cybin has a fifty-two week low of $0.39 and a fifty-two week high of $1.66. The stock has a market cap of $70.82 million, a PE ratio of -1.48 and a beta of 1.35. The firm’s fifty day simple moving average is $0.54 and its 200-day simple moving average is $0.63.

Cybin (OTCMKTS:CYBNGet Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Equities analysts anticipate that Cybin will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Cantor Fitzgerald L. P. purchased a new position in Cybin in the third quarter valued at approximately $145,000. Royal Bank of Canada raised its stake 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 period. AdvisorShares Investments LLC raised its stake in shares of Cybin by 15.6% during the second quarter. AdvisorShares Investments LLC now owns 1,047,730 shares of the company’s stock valued at $587,000 after purchasing an additional 141,031 shares during the period. IAG Wealth Partners LLC purchased a new stake in shares of Cybin during the second quarter valued at approximately $47,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Cybin during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 8.78% of the company’s stock.

Cybin Company Profile

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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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