Cybin Inc. (NYSEAMERICAN:CYBN) Sees Significant Drop in Short Interest

Cybin Inc. (NYSEAMERICAN:CYBN) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 20,550,000 shares, a decrease of 10.6% from the May 31st total of 22,990,000 shares. Based on an average trading volume of 4,040,000 shares, the days-to-cover ratio is presently 5.1 days. Currently, 3.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Cybin

Institutional investors and hedge funds have recently made changes to their positions in the business. Rathbones Group PLC purchased a new stake in shares of Cybin in the 4th quarter worth about $26,000. Cerity Partners LLC lifted its holdings in Cybin by 488.5% in the 4th quarter. Cerity Partners LLC now owns 88,271 shares of the company’s stock valued at $36,000 after purchasing an additional 73,271 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in Cybin by 141.5% in the 4th quarter. Thrive Wealth Management LLC now owns 128,000 shares of the company’s stock valued at $52,000 after purchasing an additional 75,000 shares in the last quarter. Lewis Asset Management LLC purchased a new position in Cybin in the 4th quarter valued at about $116,000. Finally, FNY Investment Advisers LLC lifted its holdings in Cybin by 20,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 402,000 shares of the company’s stock valued at $164,000 after purchasing an additional 400,000 shares in the last quarter. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Cybin Stock Performance

Cybin stock opened at $0.26 on Wednesday. Cybin has a 52 week low of $0.25 and a 52 week high of $0.74. The stock has a market capitalization of $108.84 million, a P/E ratio of -1.26 and a beta of 0.50.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Cybin in a research report on Wednesday, March 13th.

Cybin Company Profile

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.