Paul Glavine Acquires 100,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELP) insider Paul Glavine bought 100,000 shares of Cybin stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average price of $12.47 per share, with a total value of $1,247,000.00. Following the purchase, the insider owned 4,271,252 shares in the company, valued at approximately $53,262,512.44. This represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Paul Glavine also recently made the following trade(s):

• On Thursday, September 3rd, Paul Glavine bought 100,000 shares of Cybin stock. The stock was purchased at an average price of $11.78 per share, with a total value of $1,178,000.00.
• On Monday, August 31st, Paul Glavine purchased 90,000 shares of Cybin stock. The shares were purchased at an average cost of $11.59 per share, for a total transaction of $1,043,100.00.

Cybin Stock Up 1.6%

Cybin stock traded up $0.21 during midday trading on Friday, hitting $13.05. 356,146 shares of the stock were exchanged, compared to its average volume of 1,197,092. Cybin Inc. has a 52-week low of $3.76 and a 52-week high of $14.35. The stock has a market capitalization of $986.41 million, a price-to-earnings ratio of -4.32 and a beta of 0.63. The business’s 50-day moving average price is $9.84 and its 200-day moving average price is $6.85.

Cybin (NASDAQ:HELP) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). On average, sell-side analysts predict that Cybin Inc. will post -2.95 earnings per share for the current fiscal year.

Institutional Trading of Cybin

Several hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its stake in Cybin by 46.7% in the second quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock valued at $63,000 after acquiring an additional 2,400 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Cybin during the 2nd quarter worth approximately $75,000. Bank of America Corp DE raised its holdings in shares of Cybin by 66.8% in the 2nd quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after purchasing an additional 11,790 shares during the period. Pale Fire Capital SE bought a new stake in shares of Cybin in the 2nd quarter worth approximately $1,015,000. Finally, Millennium Management LLC lifted its stake in Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

Trending Headlines about Cybin

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider buying is the primary near-term catalyst. Paul Glavine purchased 100,000 shares for approximately $1.18 million at an average price of $11.78, increasing his holdings by 2.46% to more than 4.17 million shares. He also bought 90,000 shares in late August. Cybin insider purchase report
• Positive Sentiment: Insider Eric H. L. So acquired 100,000 shares for approximately $1.21 million at $12.09 per share, following a 95,000-share purchase earlier in September. The repeated open-market purchases by two insiders may reinforce investor confidence in Cybin’s outlook. SEC insider purchase filing
• Positive Sentiment: Helus Pharma, Cybin’s commercial name, plans to participate in the Morgan Stanley Global Healthcare Conference on September 16, where CEO Michael Halstead is scheduled for a fireside chat. The event could increase visibility into the company’s psychedelic-based mental-health pipeline and upcoming clinical milestones. Morgan Stanley conference announcement
• Neutral Sentiment: The latest short-interest report lists zero shares sold short and a zero-day days-to-cover ratio, but also contains an invalid “NaN” percentage change. As a result, it provides little dependable information about current short-selling pressure.
• Negative Sentiment: Cybin continues to operate at a loss. Its latest quarterly loss of $0.91 per share was wider than the expected $0.80 loss, and analysts forecast a full-year loss of approximately $2.95 per share. The stock’s strong recent advance and lack of a new trial result or regulatory approval could also leave it vulnerable to profit-taking.

Wall Street Analysts Forecast Growth

HELP has been the subject of a number of research analyst reports. Wall Street Zen raised Cybin from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. TD Cowen boosted their price objective on Cybin from $8.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Wells Fargo & Company initiated coverage on Cybin in a research note on Monday, July 27th. They issued an “overweight” rating and a $16.00 price objective for the company. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $48.60.

Cybin Company Profile

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.