Cybin (NYSE:CYBN) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Cybin (NYSE:CYBN) in a report released on Wednesday morning, Benzinga reports.

Separately, HC Wainwright reissued a buy rating and set a $5.00 target price on shares of Cybin in a research note on Wednesday.

Cybin Trading Down 2.4 %

Shares of NYSE CYBN opened at $0.27 on Wednesday. Cybin has a twelve month low of $0.25 and a twelve month high of $0.74. The company has a market capitalization of $110.93 million, a PE ratio of -1.35 and a beta of 0.43. The stock’s fifty day moving average price is $0.29.

Cybin (NYSE:CYBN) last posted its earnings results on Wednesday, June 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). As a group, analysts forecast that Cybin will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Cybin

Large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. acquired a new position in Cybin during the first quarter worth $24,041,000. Rosalind Advisors Inc. increased its position in shares of Cybin by 38.3% in the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after acquiring an additional 5,340,000 shares during the last quarter. Ikarian Capital LLC bought a new stake in Cybin during the first quarter worth about $5,770,000. AWM Investment Company Inc. acquired a new position in Cybin during the first quarter valued at approximately $930,000. Finally, PEAK6 Investments LLC bought a new position in Cybin in the first quarter valued at approximately $95,000. Institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc is a biotechnology company. It is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. Cybin Inc is based in Toronto, Canada.