Fore Capital LLC Has $277,000 Stock Position in Cybin Inc. (NYSE:CYBN)

Fore Capital LLC boosted its stake in shares of Cybin Inc. (NYSE:CYBN) by 70.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,421 shares of the company’s stock after purchasing an additional 13,000 shares during the quarter. Fore Capital LLC owned 0.16% of Cybin worth $277,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Cybin during the fourth quarter worth about $46,000. Cowa LLC acquired a new position in shares of Cybin in the 4th quarter worth approximately $115,000. Finally, Essential Planning LLC. acquired a new position in shares of Cybin in the 4th quarter worth approximately $138,000. 17.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CYBN. HC Wainwright reduced their target price on shares of Cybin from $190.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on shares of Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, February 12th.

Cybin Stock Up 2.7 %

Shares of CYBN stock opened at $7.34 on Thursday. The business’s fifty day simple moving average is $9.08. The company has a market capitalization of $157.64 million, a PE ratio of -1.68 and a beta of 0.50. Cybin Inc. has a 52 week low of $6.50 and a 52 week high of $19.85.

Cybin 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.