Cybin (OTCMKTS:CYBN) Stock Price Up 1.2% – Here’s Why

Cybin Inc. (OTCMKTS:CYBN)’s stock price traded up 1.2% on Friday . The stock traded as high as $8.38 and last traded at $8.28. 717,287 shares were traded during mid-day trading, an increase of 42% from the average session volume of 503,386 shares. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

Several research analysts have commented on CYBN shares. Canaccord Genuity Group decreased their target price on shares of Cybin from $70.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Guggenheim reiterated a “buy” rating on shares of Cybin in a research report on Wednesday, December 3rd. Finally, HC Wainwright lowered their target price on Cybin from $150.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $50.00.

Cybin Stock Performance

The business’s 50 day moving average price is $6.65 and its two-hundred day moving average price is $6.89. The company has a market capitalization of $208.56 million, a price-to-earnings ratio of -43.58 and a beta of 0.67.

Hedge Funds Weigh In On Cybin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of Cybin in the third quarter valued at $30,000. Mayflower Financial Advisors LLC acquired a new position in Cybin during the third quarter worth about $60,000. Lewis Asset Management LLC bought a new stake in Cybin in the third quarter worth about $82,000. Credit Agricole S A acquired a new stake in Cybin in the 3rd quarter valued at about $93,000. Finally, AdvisorShares Investments LLC boosted its position in shares of Cybin by 31.4% during the 3rd quarter. AdvisorShares Investments LLC now owns 116,102 shares of the company’s stock valued at $684,000 after purchasing an additional 27,719 shares in the last quarter. 17.94% of the stock is owned by institutional investors.

About Cybin

Cybin Inc (OTCMKTS: CYBN) is a biotechnology company dedicated to the research, development and commercialization of psychedelic-based therapeutics for the treatment of various mental health conditions. The company leverages its proprietary drug discovery engine and novel delivery platforms to create next-generation psychedelic molecules designed to improve safety, efficacy and patient experience. Cybin’s pipeline includes psilocybin-derived compounds, 5-MeO-DMT analogs, LSD-inspired molecules and associated microdosing formulations.

Central to Cybin’s strategy is the DeNovo™ platform, which optimizes the pharmacological profiles of psychedelic agents while advancing scalable manufacturing processes.