Cybin (NASDAQ:HELP) Now Covered by TD Cowen

TD Cowen started coverage on shares of Cybin (NASDAQ:HELP) in a report published on Monday, MarketBeat reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group started coverage on Cybin in a report on Monday, February 2nd. They issued a “buy” rating and a $22.00 price objective on the stock. HC Wainwright increased their price objective on Cybin from $55.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $48.60.

Cybin Stock Up 4.0%

NASDAQ HELP opened at $5.43 on Monday. The stock has a 50 day moving average of $5.81. The stock has a market capitalization of $280.35 million, a price-to-earnings ratio of -1.28 and a beta of 0.77. Cybin has a 52-week low of $4.29 and a 52-week high of $9.83.

Cybin (NASDAQ:HELP) last posted its quarterly earnings results on Friday, February 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.19).

Hedge Funds Weigh In On Cybin

A number of hedge funds have recently added to or reduced their stakes in HELP. Osaic Holdings Inc. grew its holdings in Cybin by 46.7% during 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 during the last quarter. Bank of America Corp DE grew its holdings in Cybin by 66.8% during 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. Finally, Millennium Management LLC grew its holdings in Cybin by 1,388.5% during the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock valued at $8,414,000 after purchasing an additional 959,448 shares during the last quarter. Institutional investors and hedge funds own 17.94% of the company’s stock.

Cybin Company Profile

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.