Cybin’s (CYBN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Cybin (NYSE:CYBN) in a research note released on Monday,Benzinga reports. They currently have a $190.00 price target on the stock.

Separately, Canaccord Genuity Group dropped their price objective on Cybin from $96.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th.

Cybin Price Performance

NYSE CYBN opened at $9.59 on Monday. The stock has a market capitalization of $191.70 million, a P/E ratio of -1.44 and a beta of 0.44. Cybin has a 52-week low of $6.50 and a 52-week high of $19.85. The stock’s 50-day moving average is $9.83.

Hedge Funds Weigh In On Cybin

A hedge fund recently bought a new stake in Cybin stock. Sanctuary Advisors LLC acquired a new stake in Cybin Inc. (NYSE:CYBN) in the second quarter, according to its most recent filing with the SEC. The fund acquired 131,252 shares of the company’s stock, valued at approximately $36,000. 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.