Cybin (OTCMKTS:CYBN) Stock Price Up 1.2% – Here’s Why

Cybin Inc. (OTCMKTS:CYBN)’s stock price traded up 1.2% during trading on Monday . The company traded as high as $8.38 and last traded at $8.28. 717,287 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 503,386 shares. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

CYBN has been the topic of a number of research reports. Canaccord Genuity Group lowered their price target on Cybin from $70.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. HC Wainwright dropped their target price on Cybin from $150.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Cybin in a report on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $50.00.

Cybin Stock Performance

The company has a market cap of $208.56 million, a price-to-earnings ratio of -43.58 and a beta of 0.64. The company has a 50-day simple moving average of $7.69 and a 200-day simple moving average of $6.94.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Credit Agricole S A acquired a new stake in Cybin in the third quarter valued at $93,000. UBS Group AG increased its holdings in shares of Cybin by 69.3% in the 3rd quarter. UBS Group AG now owns 303,740 shares of the company’s stock valued at $1,789,000 after purchasing an additional 124,297 shares in the last quarter. Mayflower Financial Advisors LLC acquired a new stake in shares of Cybin in the third quarter valued at about $60,000. Millennium Management LLC acquired a new stake in shares of Cybin in the third quarter valued at about $407,000. Finally, Bank of America Corp DE boosted its holdings in Cybin by 114.2% during the third quarter. Bank of America Corp DE now owns 63,056 shares of the company’s stock worth $371,000 after buying an additional 33,613 shares in the last quarter. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Cybin Company Profile

Cybin Inc (OTCMKTS: CYBN) is a biotechnology company dedicated to the research, development and commercialization of psychedelic-based therapeutics for the treatment of various mental health conditions. The company leverages its proprietary drug discovery engine and novel delivery platforms to create next-generation psychedelic molecules designed to improve safety, efficacy and patient experience. Cybin’s pipeline includes psilocybin-derived compounds, 5-MeO-DMT analogs, LSD-inspired molecules and associated microdosing formulations.

Central to Cybin’s strategy is the DeNovo™ platform, which optimizes the pharmacological profiles of psychedelic agents while advancing scalable manufacturing processes.