Cybin (OTCMKTS:CYBN) Stock Price Down 2%

Cybin Inc. (OTCMKTS:CYBN)’s share price dropped 2% on Thursday . The stock traded as low as $0.36 and last traded at $0.37. Approximately 1,714,145 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 5,246,800 shares. The stock had previously closed at $0.38.

Cybin Price Performance

The stock has a market cap of $151.07 million, a P/E ratio of -1.74 and a beta of 0.43. The firm’s fifty day moving average price is $0.39 and its two-hundred day moving average price is $0.43.

Cybin (OTCMKTS:CYBN) last announced its earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). On average, research analysts expect that Cybin Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cybin

A number of institutional investors and hedge funds have recently bought and sold shares of CYBN. Moneta Group Investment Advisors LLC lifted its holdings in shares of Cybin by 133,816.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 66,405,251 shares of the company’s stock worth $19,729,000 after acquiring an additional 66,355,664 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Cybin by 55.8% during the first quarter. Penserra Capital Management LLC now owns 407,309 shares of the company’s stock worth $223,000 after purchasing an additional 145,929 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Cybin by 926.4% in the third quarter. Royal Bank of Canada now owns 109,239 shares of the company’s stock worth $52,000 after buying an additional 98,596 shares during the period. Jane Street Group LLC boosted its holdings in Cybin by 370.6% during the 1st quarter. Jane Street Group LLC now owns 74,631 shares of the company’s stock valued at $61,000 after acquiring an additional 58,771 shares during the period. Finally, Belpointe Asset Management LLC boosted its stake in shares of Cybin by 21.5% during the first quarter. Belpointe Asset Management LLC now owns 313,705 shares of the company’s stock valued at $121,000 after purchasing an additional 55,600 shares during the period. 17.94% of the stock is owned by hedge funds and other institutional investors.

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.