Cybin Inc. (NYSEAMERICAN:CYBN – Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 23,050,000 shares, a growth of 146.5% from the February 29th total of 9,350,000 shares. Based on an average trading volume of 5,100,000 shares, the days-to-cover ratio is presently 4.5 days. Approximately 6.6% of the shares of the stock are sold short.
Institutional Investors Weigh In On Cybin
A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its position in shares of Cybin by 58.6% in the 4th quarter. Point72 Asset Management L.P. now owns 30,061,112 shares of the company’s stock worth $12,325,000 after buying an additional 11,111,112 shares during the period. PDS Planning Inc purchased a new stake in shares of Cybin in the fourth quarter worth $473,000. FNY Investment Advisers LLC raised its holdings in shares of Cybin by 20,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 402,000 shares of the company’s stock valued at $164,000 after purchasing an additional 400,000 shares during the last quarter. Lewis Asset Management LLC acquired a new stake in Cybin during the fourth quarter worth about $116,000. Finally, Thrive Wealth Management LLC grew its stake in shares of Cybin by 141.5% in the fourth quarter. Thrive Wealth Management LLC now owns 128,000 shares of the company’s stock valued at $52,000 after buying an additional 75,000 shares in the last quarter. 17.94% of the stock is owned by institutional investors.
Cybin Trading Down 5.2 %
CYBN traded down $0.02 during midday trading on Thursday, hitting $0.41. The company had a trading volume of 4,722,750 shares, compared to its average volume of 5,353,565. Cybin has a 52 week low of $0.21 and a 52 week high of $0.74. The company has a market cap of $167.51 million, a P/E ratio of -2.03 and a beta of 0.38.
Analyst Upgrades and Downgrades
Separately, HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Cybin in a research report on Wednesday, March 13th.
View Our Latest Research Report on Cybin
Cybin Company Profile
Cybin Inc, a clinical-stage biopharmaceutical company, focuses on developing psychedelic-based therapeutics. The company's development pipeline includes CYB003, a deuterated psilocybin analog, which is in Phase 1/2a clinical trial to treat major depressive and alcohol use disorders; CYB004, a deuterated dimethyltryptamine, which is in Phase 1 clinical trial for treating generalized anxiety disorders; and CYB005, a phenethylamine derivative, which in preclinical stage to treat neuroinflammation.
Featured Stories
- Five stocks we like better than Cybin
- How to Use the MarketBeat Stock Screener
- 3 Value Stocks Too Small For Buffett’s Portfolio
- 3 Warren Buffett Stocks to Buy Now
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- Investing in Commodities: What Are They? How to Invest in Them
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Cybin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cybin and related companies with MarketBeat.com's FREE daily email newsletter.