Eric So Buys 100,000 Shares of Cybin (NASDAQ:HELP) Stock

Cybin Inc. (NASDAQ:HELP) insider Eric So acquired 100,000 shares of Cybin stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $12.39 per share, for a total transaction of $1,239,000.00. Following the completion of the acquisition, the insider owned 4,465,014 shares in the company, valued at $55,321,523.46. This trade represents a 2.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cybin Price Performance

NASDAQ HELP opened at $12.97 on Friday. The firm’s 50-day moving average is $9.97 and its two-hundred day moving average is $6.89. Cybin Inc. has a 12 month low of $3.76 and a 12 month high of $14.35. The stock has a market capitalization of $980.66 million, a P/E ratio of -4.29 and a beta of 0.63.

Cybin (NASDAQ:HELP) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). As a group, analysts anticipate that Cybin Inc. will post -2.95 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on HELP shares. Wall Street Zen upgraded shares of Cybin from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. TD Cowen upped their price target on 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 started coverage on Cybin in a research report on Monday, July 27th. They set an “overweight” rating and a $16.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $48.60.

Cybin News Roundup

Here are the key news stories impacting Cybin this week:

• Positive Sentiment: Insider Paul Glavine bought 100,000 shares for approximately $1.25 million on September 8, increasing his direct ownership by 2.40%. Insider Eric H. L. So also purchased 100,000 shares for about $1.24 million, lifting his stake by 2.29%. These transactions follow additional purchases by both insiders in late August and early September, representing a notable pattern of open-market buying and likely supporting investor confidence. Eric So SEC filing Paul Glavine SEC filing
• Positive Sentiment: Cybin’s commercial operations are scheduled to receive investor exposure at the Morgan Stanley 24th Annual Global Healthcare Conference on September 16. CEO Michael Halstead is expected to participate in a fireside chat, potentially providing updates on the company’s psychedelic-based mental-health drug pipeline. Morgan Stanley conference announcement
• Neutral Sentiment: Reported short interest was zero shares with a zero-day days-to-cover ratio. However, the filing also showed an invalid “NaN” percentage change, making the data unreliable as an indicator of short-selling pressure.
• Negative Sentiment: Cybin remains an unprofitable clinical-stage biotechnology company. Its latest quarterly loss of $0.91 per share was worse than the expected $0.80 loss, and analysts project a full-year loss of approximately $2.95 per share. With no new trial result or regulatory approval reported, valuation and future financing needs remain important risks after the stock’s sharp advance.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings 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 in the last quarter. Osaic Holdings Inc. lifted its holdings in 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 buying an additional 2,400 shares in the last quarter. Millennium Management LLC boosted its position in Cybin by 1,388.5% in the 4th quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after buying an additional 959,448 shares during the period. Pale Fire Capital SE purchased a new position in Cybin in the 2nd quarter valued at approximately $1,015,000. Finally, AXQ Capital LP acquired a new position in shares of Cybin in the second quarter worth $75,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics for the treatment of mental health conditions. The company combines drug discovery, clinical development and proprietary formulation technologies to design potentially more efficient and scalable psychedelic treatments.

Cybin’s development programs have included CYB003, an investigational deuterated psilocybin analog being studied for major depressive disorder, and CYB004, an investigational deuterated DMT molecule being evaluated for generalized anxiety disorder and other mental health indications.