PDS Planning Inc Has $2.38 Million Stock Holdings in Cybin Inc. (NYSE:CYBN)

PDS Planning Inc reduced its holdings in shares of Cybin Inc. (NYSE:CYBN) by 76.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 267,580 shares of the company’s stock after selling 885,540 shares during the period. PDS Planning Inc owned about 0.07% of Cybin worth $2,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. RA Capital Management L.P. acquired a new stake in Cybin during the first quarter valued at approximately $24,041,000. Rosalind Advisors Inc. raised its stake in Cybin by 38.3% during the second quarter. Rosalind Advisors Inc. now owns 19,300,000 shares of the company’s stock worth $5,230,000 after acquiring an additional 5,340,000 shares in the last quarter. Ikarian Capital LLC bought a new position in shares of Cybin during the first quarter valued at $5,770,000. AWM Investment Company Inc. acquired a new stake in shares of Cybin in the 1st quarter valued at $930,000. Finally, AdvisorShares Investments LLC boosted its stake in shares of Cybin by 13.4% in the 2nd 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 in the last quarter. Institutional investors own 17.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CYBN shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Cybin in a report on Wednesday, July 31st. Canaccord Genuity Group decreased their price target on Cybin from $114.00 to $96.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Cybin in a research report on Friday, August 23rd.

Cybin Trading Up 0.1 %

Shares of NYSE CYBN traded up $0.01 during trading on Monday, reaching $10.00. The company had a trading volume of 13,036 shares, compared to its average volume of 142,414. Cybin Inc. has a 52 week low of $6.50 and a 52 week high of $22.31. The company has a market cap of $199.90 million, a PE ratio of -1.64 and a beta of 0.38.

Cybin (NYSE:CYBN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter. As a group, equities research analysts forecast that Cybin Inc. will post -2.85 earnings per share for the current year.

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.