Paul Glavine Purchases 90,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELP) insider Paul Glavine purchased 90,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $11.59 per share, for a total transaction of $1,043,100.00. Following the completion of the purchase, the insider owned 4,071,252 shares of the company’s stock, valued at approximately $47,185,810.68. This trade represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, September 3rd, Paul Glavine purchased 100,000 shares of Cybin stock. The shares were purchased at an average cost of $11.78 per share, with a total value of $1,178,000.00.

Cybin Stock Down 6.1%

Shares of NASDAQ:HELP opened at $12.84 on Friday. The company has a market cap of $970.83 million, a P/E ratio of -4.25 and a beta of 0.63. Cybin Inc. has a 52 week low of $3.76 and a 52 week high of $14.35. The company has a 50-day moving average price of $9.84 and a 200 day moving average price of $6.85.

Cybin (NASDAQ:HELP) last released its earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Analysts expect that Cybin Inc. will post -2.95 EPS for the current year.

More Cybin News

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider buying was notable: Paul Glavine purchased 100,000 shares for approximately $1.18 million, while Eric H. L. So bought 100,000 shares for about $1.21 million. Both increased their direct holdings by more than 2%. Glavine and So also reported earlier purchases of 90,000 and 95,000 shares, respectively, suggesting continued insider confidence. SEC insider purchase filing
• Positive Sentiment: Helus Pharma, Cybin’s commercial name, is scheduled to present at the H.C. Wainwright and Morgan Stanley healthcare conferences. Investor attention may increase because CEO Michael Halstead is expected to discuss the company’s mental-health pipeline, including Phase 3 HLP003 for major depressive disorder and Phase 2 HLP004 for generalized anxiety disorder. Morgan Stanley conference announcement
• Neutral Sentiment: The reported short-interest update shows zero shares short and a zero-day days-to-cover ratio, but it also reports an impossible “NaN” percentage change from the prior period. The data therefore offers little reliable insight into current trading pressure.
• Negative Sentiment: Cybin remains an unprofitable clinical-stage biotechnology company. Its latest quarterly loss of $0.91 per share exceeded the expected $0.80 loss, and analysts anticipate a full-year loss of approximately $2.95 per share. With no new trial results or regulatory approval announced, investors may be taking profits after the stock’s sharp recent rise and reacting to ongoing development and financing risks.

Hedge Funds Weigh In On Cybin

Several hedge funds have recently bought and sold shares of HELP. Millennium Management LLC increased its holdings in Cybin by 1,388.5% during the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after acquiring an additional 959,448 shares in the last quarter. Pale Fire Capital SE purchased a new stake in shares of Cybin in the second quarter valued at about $1,015,000. Bank of America Corp DE grew its position in shares of Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock valued at $247,000 after purchasing an additional 11,790 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Cybin during the 2nd quarter worth approximately $75,000. Finally, Osaic Holdings Inc. raised its position in shares of Cybin by 46.7% during the 2nd quarter. Osaic Holdings Inc. now owns 7,543 shares of the company’s stock worth $63,000 after purchasing an additional 2,400 shares during the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.