Sanctuary Advisors LLC Makes New Investment in Cybin Inc. (NYSE:CYBN)

Sanctuary Advisors LLC bought a new stake in Cybin Inc. (NYSE:CYBN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 131,252 shares of the company’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorShares Investments LLC raised its holdings in shares of Cybin by 13.4% in the second 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 last quarter. PEAK6 Investments LLC bought a new position in Cybin during the first quarter valued at about $95,000. AWM Investment Company Inc. bought a new position in Cybin during the first quarter valued at about $930,000. Rosalind Advisors Inc. grew its position in Cybin by 38.3% during the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock valued at $5,230,000 after buying an additional 5,340,000 shares during the period. Finally, Ikarian Capital LLC bought a new position in Cybin during the first quarter valued at about $5,770,000. Hedge funds and other institutional investors own 17.94% of the company’s stock.

Cybin Price Performance

Shares of NYSE:CYBN opened at $10.97 on Tuesday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -54.85 and a beta of 0.41. Cybin Inc. has a twelve month low of $6.50 and a twelve month high of $28.04.

Cybin (NYSE:CYBN) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter. Analysts predict that Cybin Inc. will post -2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CYBN. Canaccord Genuity Group reduced their price target on shares of Cybin from $114.00 to $96.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Cybin in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Cybin in a research report on Wednesday, July 31st.

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.