Cybin (NYSE:CYBN) Price Target Cut to $150.00 by Analysts at HC Wainwright

Cybin (NYSE:CYBN) had its target price cut by HC Wainwright from $190.00 to $150.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Canaccord Genuity Group reduced 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 Stock Performance

Shares of Cybin stock opened at $9.47 on Thursday. The firm has a 50-day moving average of $9.62. Cybin has a 12-month low of $6.50 and a 12-month high of $19.85. The stock has a market capitalization of $191.77 million, a PE ratio of -1.42 and a beta of 0.46.

Institutional Trading of Cybin

Several institutional investors and hedge funds have recently modified their holdings of CYBN. Global Retirement Partners LLC acquired a new position in shares of Cybin during the 4th quarter worth approximately $46,000. Marshall Wace LLP purchased a new position in Cybin during the fourth quarter worth $94,000. Cowa LLC purchased a new position in Cybin during the fourth quarter worth $115,000. Fore Capital LLC lifted its position in shares of Cybin by 70.6% in the fourth quarter. Fore Capital LLC now owns 31,421 shares of the company’s stock valued at $277,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Essential Planning LLC. acquired a new stake in shares of Cybin during the fourth quarter valued at $138,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

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.