Knott David M Jr Takes Position in Cybin Inc. (NYSE:CYBN)

Knott David M Jr acquired a new position in shares of Cybin Inc. (NYSE:CYBN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 60,446 shares of the company’s stock, valued at approximately $533,000.

A number of other large investors have also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Cybin in the fourth quarter valued at $46,000. Cowa LLC acquired a new stake in shares of Cybin during the 4th quarter worth about $115,000. Fore Capital LLC lifted its stake in Cybin by 70.6% during the fourth quarter. Fore Capital LLC now owns 31,421 shares of the company’s stock worth $277,000 after purchasing an additional 13,000 shares during the last quarter. Essential Planning LLC. acquired a new position in Cybin in the fourth quarter valued at approximately $138,000. Finally, Diametric Capital LP acquired a new position in Cybin in the fourth quarter valued at approximately $157,000. 17.94% of the stock is currently owned by hedge funds and other institutional investors.

Cybin Stock Down 5.7 %

Shares of CYBN stock opened at $6.34 on Tuesday. The stock has a market cap of $136.16 million, a P/E ratio of -1.45 and a beta of 0.50. The company has a 50 day moving average of $8.51. Cybin Inc. has a twelve month low of $6.20 and a twelve month high of $17.86.

Analyst Upgrades and Downgrades

CYBN has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their price objective on shares of Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Guggenheim started coverage on shares of Cybin in a research report on Thursday, March 13th. They issued a “buy” rating and a $35.00 price target for the company. Finally, HC Wainwright decreased their price target on shares of Cybin from $190.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Cybin 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.