Cybin (NYSE:CYBN) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Cybin (NYSE:CYBN) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on CYBN. Guggenheim initiated coverage on Cybin in a report on Thursday, March 13th. They issued a “buy” rating and a $35.00 price objective for the company. HC Wainwright lowered their price objective on shares of Cybin from $190.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group dropped their price objective on Cybin from $86.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th.

Cybin Trading Up 2.8%

CYBN opened at $6.56 on Tuesday. The stock has a market capitalization of $140.89 million, a P/E ratio of -1.50 and a beta of 0.60. Cybin has a 12-month low of $4.81 and a 12-month high of $13.88. The stock has a 50-day moving average price of $6.72 and a 200-day moving average price of $8.65.

Institutional Investors Weigh In On Cybin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. PEAK6 LLC acquired a new position in Cybin in the 1st quarter valued at $167,000. Pale Fire Capital SE grew its stake in Cybin by 85.2% during the 1st quarter. Pale Fire Capital SE now owns 112,805 shares of the company’s stock valued at $715,000 after purchasing an additional 51,893 shares in the last quarter. Knott David M Jr raised its position in shares of Cybin by 10.6% during the 1st quarter. Knott David M Jr now owns 66,880 shares of the company’s stock valued at $424,000 after acquiring an additional 6,434 shares in the last quarter. National Bank of Canada FI grew its position in Cybin by 3,546.5% in the 1st quarter. National Bank of Canada FI now owns 5,251 shares of the company’s stock worth $33,000 after purchasing an additional 5,107 shares during the last quarter. Finally, DCF Advisers LLC bought a new position in shares of Cybin in the first quarter valued at approximately $1,281,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company’s development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.