Cybin (NASDAQ:HELP) Now Covered by Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Cybin (NASDAQ:HELP) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $16.00 price target on the stock.

Separately, TD Cowen assumed coverage on shares of Cybin in a research note on Monday, April 13th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.25.

Cybin Trading Up 1.0%

Cybin stock opened at $7.70 on Monday. The company’s 50-day moving average price is $5.53. The company has a market cap of $538.03 million, a P/E ratio of -1.82 and a beta of 0.62. Cybin has a 52-week low of $3.76 and a 52-week high of $9.12.

Hedge Funds Weigh In On Cybin

Several institutional investors and hedge funds have recently bought and sold shares of 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 period. Bank of America Corp DE increased its position in Cybin by 66.8% in the second quarter. Bank of America Corp DE now owns 29,443 shares of the company’s stock worth $247,000 after buying an additional 11,790 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Cybin by 1,388.5% in the fourth quarter. Millennium Management LLC now owns 1,028,549 shares of the company’s stock worth $8,414,000 after buying an additional 959,448 shares during the period. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

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.