HC Wainwright Has Bearish Outlook for Cybin FY2029 Earnings

Cybin Inc. (NYSE:CYBN) – Stock analysts at HC Wainwright cut their FY2029 earnings per share (EPS) estimates for shares of Cybin in a research report issued to clients and investors on Monday, January 27th. HC Wainwright analyst P. Trucchio now forecasts that the company will post earnings per share of $8.87 for the year, down from their prior estimate of $9.57. HC Wainwright has a “Buy” rating and a $190.00 price objective on the stock. The consensus estimate for Cybin’s current full-year earnings is ($4.88) per share.

Separately, Canaccord Genuity Group cut their price target on Cybin from $96.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

Cybin Price Performance

CYBN opened at $9.86 on Wednesday. Cybin has a fifty-two week low of $6.50 and a fifty-two week high of $19.85. The business’s 50-day moving average price is $9.78. The stock has a market cap of $197.83 million, a P/E ratio of -1.48 and a beta of 0.44.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cybin stock. Sanctuary Advisors LLC acquired a new position in shares of Cybin Inc. (NYSE:CYBN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 131,252 shares of the company’s stock, valued at approximately $36,000. 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.