Cybin (OTCMKTS:CYBN) Shares Up 4,086.3%

Cybin Inc. (OTCMKTS:CYBN)’s share price rose 4,086.3% during mid-day trading on Thursday . The stock traded as high as $8.55 and last traded at $8.54. Approximately 570,897 shares changed hands during mid-day trading, an increase of 335% from the average daily volume of 131,147 shares. The stock had previously closed at $0.20.

Cybin Price Performance

The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -42.70 and a beta of 0.42. The stock has a 50-day moving average of $0.26 and a 200 day moving average of $0.32.

Cybin (OTCMKTS:CYBN) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Cybin Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cybin stock. Nadler Financial Group Inc. raised its stake in Cybin Inc. (OTCMKTS:CYBN) by 125.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,700 shares of the company’s stock after buying an additional 55,000 shares during the quarter. Nadler Financial Group Inc.’s holdings in Cybin were worth $41,000 as of its most recent filing with the Securities and Exchange Commission. 17.94% of the stock is currently owned by institutional investors.

Cybin Company Profile

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.