HC Wainwright Cuts Cybin (NYSE:CYBN) Price Target to $150.00

Cybin (NYSE:CYBN) had its target price decreased by HC Wainwright from $190.00 to $150.00 in a research report sent to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Canaccord Genuity Group dropped their price objective on Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday.

Cybin Stock Performance

Shares of CYBN opened at $9.53 on Thursday. The stock’s 50-day moving average is $9.57. The company has a market capitalization of $192.98 million, a PE ratio of -1.43 and a beta of 0.46. Cybin has a 1 year low of $6.50 and a 1 year high of $19.85.

Hedge Funds Weigh In On Cybin

Institutional investors and hedge funds have recently bought and sold shares of the company. AdvisorShares Investments LLC grew its position in shares of Cybin by 3.2% in the 4th quarter. AdvisorShares Investments LLC now owns 50,651 shares of the company’s stock valued at $447,000 after buying an additional 1,567 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Cybin in the 4th quarter valued at about $46,000. Boothbay Fund Management LLC grew its position in shares of Cybin by 9.2% in the 4th quarter. Boothbay Fund Management LLC now owns 106,665 shares of the company’s stock valued at $941,000 after buying an additional 9,029 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Cybin in the 4th quarter valued at about $94,000. Finally, Cowa LLC bought a new stake in shares of Cybin in the 4th quarter valued at about $115,000. Institutional investors and hedge funds 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.