Cybin (NYSE:CYBN) is seeing a big increase in volume

Shares of Cybin Inc. (NYSE:CYBN – Get Free Report ) saw an increase in trading volume on Monday. 81,682 shares were traded during trading, down 39% from the previous session’s volume of 134,133 shares. Shares last traded at $9.37 and previously closed at $9.18.

Analysts on Wall Street are forecasting an increase

Several brokerages have recently commented on CYBN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cybin in a research note on Wednesday, July 31st. Canaccord Genuity Group cut their price target on shares of Cybin from $114.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Cybin in a research note on Friday, August 23rd.

Get the latest stock report on Cybin

Cybin price performance

The firm has a market cap of $3.90 billion, a P/E ratio of -47.45 and a beta of 0.42. The stock’s 50-day simple moving average is $0.60.

Cybin (NYSE:CYBN – Get Your Free Report ) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter. On average, analysts estimate that Cybin Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional inputs and outputs

A number of institutional investors have recently bought and sold shares of CYBN. Sanctuary Advisors LLC purchased a new position in shares of Cybin in the second quarter worth approximately $36,000. AdvisorShares Investments LLC grew its position in shares of Cybin by 13.4% in the second quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company’s stock valued at $494,000 after buying an additional 220,403 shares during the last quarter. Rosalind Advisors Inc. grew its position in shares of Cybin by 38.3% in the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after purchasing an additional 5,340,000 shares in the last quarter. RA Capital Management LP purchased a new position in Cybin in the first quarter worth about $24,041,000. Finally, Ikarian Capital LLC acquired a new position in Cybin in the 1st quarter worth approximately $5,770,000. 17.94% of the shares are currently owned by institutional investors and hedge funds.

Cybin Company Profile

(Get a free report)

Cybin Inc is a biotechnology company. It is focused on advancing psychedelic therapy through the use of proprietary drug discovery platforms, drug delivery systems, novel formulation approaches, and treatment regimens for psychiatric disorders. Cybin Inc is headquartered in Toronto, Canada.

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