Guggenheim Begins Coverage on Cybin (NYSE:CYBN)

Guggenheim started coverage on shares of Cybin (NYSE:CYBN) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $35.00 price target on the stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group decreased their price objective on shares of Cybin from $86.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. HC Wainwright decreased their price objective on shares of Cybin from $190.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Cybin Stock Performance

Shares of NYSE:CYBN opened at $7.57 on Thursday. The stock has a market cap of $162.58 million, a PE ratio of -1.73 and a beta of 0.50. The stock has a fifty day simple moving average of $8.98. Cybin has a 52 week low of $6.50 and a 52 week high of $17.86.

Institutional Investors Weigh In On Cybin

Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in shares of Cybin during the 4th quarter valued at about $46,000. Marshall Wace LLP bought a new stake in shares of Cybin during the 4th quarter valued at about $94,000. Cowa LLC bought a new stake in shares of Cybin during the 4th quarter valued at about $115,000. Essential Planning LLC. bought a new stake in shares of Cybin during the 4th quarter valued at about $138,000. Finally, Diametric Capital LP bought a new stake in shares of Cybin during the 4th quarter valued at about $157,000. Institutional investors own 17.94% of the company’s stock.

About Cybin

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.