Cybin Inc. (NYSE:CYBN) Stock Position Decreased by Rosalind Advisors Inc.

Rosalind Advisors Inc. cut its stake in shares of Cybin Inc. (NYSE:CYBN) by 94.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,075,105 shares of the company’s stock after selling 18,224,895 shares during the quarter. Cybin makes up approximately 6.0% of Rosalind Advisors Inc.’s holdings, making the stock its 6th biggest position. Rosalind Advisors Inc.’s holdings in Cybin were worth $9,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CYBN. Sanctuary Advisors LLC purchased a new position in shares of Cybin in the second quarter valued at about $36,000. AdvisorShares Investments LLC raised its stake in Cybin by 13.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,865,217 shares of the company’s stock valued at $494,000 after purchasing an additional 220,403 shares during the period. PEAK6 Investments LLC purchased a new position in Cybin in the 1st quarter worth approximately $95,000. AWM Investment Company Inc. bought a new position in Cybin in the 1st quarter worth approximately $930,000. Finally, Ikarian Capital LLC purchased a new stake in Cybin during the 1st quarter valued at approximately $5,770,000. 17.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CYBN shares. Canaccord Genuity Group lowered their target price on shares of Cybin from $114.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cybin in a report on Wednesday, July 31st. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Cybin in a research report on Friday, August 23rd.

Cybin Trading Up 0.3 %

Shares of CYBN stock opened at $10.15 on Wednesday. The company has a market cap of $202.92 million, a price-to-earnings ratio of -1.67 and a beta of 0.38. Cybin Inc. has a 1 year low of $6.50 and a 1 year high of $22.31.

Cybin (NYSE:CYBN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter. On average, equities research analysts anticipate that Cybin Inc. will post -2.85 earnings per share for the current fiscal year.

Cybin Company Profile

Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics for patients with mental health conditions. The company’s development pipeline includes CYB003, a deuterated psilocybin analog, which is in phase 1/2a clinical trial to treat major depressive disorder (MDD), as well as in preclinical trials for alcohol use disorder; CYB004, a deuterated dimethyltryptamine (DMT), which completed phase 2 clinical trial for treating generalized anxiety disorders; SPL028 injectable deuterated DMT completed phase 1 clinical intramuscular and intravenous trial; SPL026 completed phase 1, 1b, and 1/2a for MDD; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation, as well as has a research pipeline of investigational psychedelic-based compounds.