Diametric Capital LP Acquires Shares of 17,819 Cybin Inc. (NYSE:CYBN)

Diametric Capital LP bought a new position in Cybin Inc. (NYSE:CYBN) during the fourth quarter, Holdings Channel reports. The fund bought 17,819 shares of the company’s stock, valued at approximately $157,000.

A number of other large investors also recently bought and sold shares of CYBN. Global Retirement Partners LLC bought a new stake in Cybin in the fourth quarter worth $46,000. Cowa LLC purchased a new position in shares of Cybin in the 4th quarter worth about $115,000. Essential Planning LLC. bought a new position in Cybin in the 4th quarter worth about $138,000. Finally, Fore Capital LLC grew its position in Cybin by 70.6% during the 4th quarter. Fore Capital LLC now owns 31,421 shares of the company’s stock valued at $277,000 after purchasing an additional 13,000 shares during the last quarter. 17.94% of the stock is owned by hedge funds and other institutional investors.

Cybin Trading Up 5.9 %

Shares of Cybin stock opened at $6.26 on Thursday. Cybin Inc. has a twelve month low of $5.73 and a twelve month high of $17.86. The company has a market capitalization of $134.45 million, a P/E ratio of -1.43 and a beta of 0.61. The firm’s 50 day moving average is $8.36.

Wall Street Analyst Weigh In

CYBN has been the topic of several analyst reports. Guggenheim started coverage on shares of Cybin in a research note on Thursday, March 13th. They issued a “buy” rating and a $35.00 target price on the stock. HC Wainwright cut their target price on Cybin from $190.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group decreased their price target on Cybin from $86.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th.

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.