Cybin (NYSE:CYBN) Price Target Cut to $150.00 by Analysts at HC Wainwright

Cybin (NYSE:CYBN) had its price objective reduced by stock analysts at HC Wainwright from $190.00 to $150.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Separately, Canaccord Genuity Group cut their target price on shares of Cybin from $86.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday.

Cybin Stock Performance

NYSE CYBN opened at $9.36 on Thursday. The firm has a market cap of $189.54 million, a P/E ratio of -1.40 and a beta of 0.46. The firm has a 50-day moving average price of $9.64. Cybin has a 1-year low of $6.50 and a 1-year high of $19.85.

Institutional Investors Weigh In On Cybin

Several large investors have recently bought and sold shares of CYBN. Sanctuary Advisors LLC acquired a new position in shares of Cybin during the second quarter worth about $36,000. Global Retirement Partners LLC purchased a new position in Cybin in the fourth quarter worth approximately $46,000. Cowa LLC purchased a new position in Cybin in the fourth quarter worth approximately $115,000. Essential Planning LLC. acquired a new position in Cybin during the 4th quarter worth approximately $138,000. Finally, Diametric Capital LP purchased a new stake in shares of Cybin during the 4th quarter worth $157,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

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.