Cybin (NASDAQ:HELP) Posts Quarterly Earnings Results

Cybin (NASDAQ:HELP) issued its earnings results on Monday. The company reported $999.00 earnings per share for the quarter, Zacks reports.

Cybin Stock Down 3.9%

Shares of Cybin stock opened at $6.61 on Wednesday. The firm’s fifty day simple moving average is $4.91. Cybin has a 1 year low of $3.76 and a 1 year high of $9.83. The firm has a market cap of $341.54 million, a P/E ratio of -1.56 and a beta of 0.74.

Hedge Funds Weigh In On Cybin

Several large investors have recently modified their holdings of HELP. Millennium Management LLC lifted its stake in shares of Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after buying an additional 959,448 shares during the last quarter. Bank of America Corp DE grew its stake in Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after buying an additional 11,790 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Cybin by 46.7% in the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after buying an additional 2,400 shares during the last quarter. 17.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen assumed coverage on shares of Cybin in a research report on Monday, April 13th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $58.75.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on the development of psychedelic-based therapeutics for the treatment of mental health disorders. Headquartered in Toronto and listed on the NASDAQ under the symbol HELP, Cybin pursues research and development programs intended to harness the therapeutic potential of psychedelic compounds to address conditions with significant unmet need.

The company operates a drug discovery and development platform aimed at creating novel small-molecule psychedelic analogs and tailored formulations.