Cybin (NYSEAMERICAN:CYBN) Stock Price Up 4.4% – Should You Buy?

Cybin Inc. (NYSEAMERICAN:CYBN)’s stock price rose 4.4% on Monday . The stock traded as high as $8.74 and last traded at $8.71. Approximately 1,477,533 shares were traded during mid-day trading, an increase of 90% from the average daily volume of 776,156 shares. The stock had previously closed at $8.34.

Analyst Upgrades and Downgrades

Separately, Guggenheim raised their price target on shares of Cybin from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $89.33.

Cybin Trading Up 4.4%

The firm has a market capitalization of $219.40 million, a price-to-earnings ratio of -2.24 and a beta of 0.67. The business has a 50-day moving average of $6.47 and a two-hundred day moving average of $6.86. The company has a quick ratio of 8.58, a current ratio of 8.58 and a debt-to-equity ratio of 0.21.

Institutional Trading of Cybin

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of 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 purchasing an additional 2,400 shares in the last quarter. Cowa LLC boosted its stake in Cybin by 12.8% during the second quarter. Cowa LLC now owns 13,200 shares of the company’s stock worth $111,000 after buying an additional 1,500 shares in the last quarter. PEAK6 LLC bought a new stake in Cybin in the 1st quarter valued at $167,000. Bank of America Corp DE raised its stake 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 valued at $247,000 after buying an additional 11,790 shares in the last quarter. Finally, AdvisorShares Investments LLC lifted its holdings in shares of Cybin by 46.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 88,383 shares of the company’s stock worth $742,000 after acquiring an additional 28,000 shares during the period. 17.94% of the stock is currently owned by institutional investors.

About Cybin

Cybin Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of psychedelic-based therapeutics for the treatment of mental health disorders. Founded in 2019 and headquartered in Toronto, Canada, the company is pioneering novel drug candidates designed to improve safety and efficacy over naturally occurring psychedelics. Cybin’s research emphasizes proprietary formulations and delivery methods to optimize bioavailability and patient experience.

The company’s pipeline includes multiple investigational products, such as sublingual psilocybin analogs, deuterated tryptamines, and other small-molecule derivatives.