PDS Planning Inc Lowers Stock Holdings in Cybin Inc. (NYSE:CYBN)

PDS Planning Inc lessened its stake in Cybin Inc. (NYSE:CYBN) by 88.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,344 shares of the company’s stock after selling 237,236 shares during the period. PDS Planning Inc owned 0.15% of Cybin worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in shares of Cybin in the fourth quarter valued at approximately $46,000. Cowa LLC purchased a new position in Cybin in the 4th quarter valued at $115,000. Essential Planning LLC. acquired a new position in Cybin in the 4th quarter valued at $138,000. Finally, Fore Capital LLC raised its position in Cybin by 70.6% during the 4th quarter. Fore Capital LLC now owns 31,421 shares of the company’s stock worth $277,000 after buying an additional 13,000 shares during the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CYBN has been the topic of several analyst reports. Guggenheim assumed coverage on shares of Cybin in a report on Thursday, March 13th. They issued a “buy” rating and a $35.00 target price on the stock. HC Wainwright dropped their target price on Cybin from $190.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group reduced their price target on Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, February 12th.

Cybin Price Performance

Shares of NYSE CYBN opened at $7.52 on Thursday. The company has a 50-day moving average of $8.83. Cybin Inc. has a 52 week low of $6.50 and a 52 week high of $17.86. The firm has a market capitalization of $161.51 million, a PE ratio of -1.72 and a beta of 0.50.

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.