Cybin (OTCMKTS:CYBN) Shares Down 3%

Shares of Cybin Inc. (OTCMKTS:CYBN) were down 3% during trading on Friday, with approximately 4,436,106 shares traded. The company has a market capitalization of $148.93 million and a P/E ratio of -1.73. Cybin is a clinical-stage biopharmaceutical company focused on developing psychedelic-based therapeutics.

Shares of Cybin Inc. (OTCMKTS:CYBN - Get Free Report) were down 3% during trading on Friday . The company traded as low as $0.34 and last traded at $0.36. Approximately 4,436,106 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 4,807,171 shares. The stock had previously closed at $0.37.

Wall Street Analysts Forecast Growth

Separately, Bloom Burton reiterated a "buy" rating on shares of Cybin in a research note on Thursday, May 2nd.

View Our Latest Research Report on Cybin

Cybin Trading Down 3.0 %

The company has a market capitalization of $148.93 million, a P/E ratio of -1.73 and a beta of 0.50. The stock's fifty day moving average is $0.39 and its 200 day moving average is $0.41.

Cybin (OTCMKTS:CYBN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, analysts expect that Cybin Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Cybin

An institutional investor recently raised its position in Cybin stock. Nadler Financial Group Inc. boosted its stake in Cybin Inc. (OTCMKTS:CYBN - Free Report) by 125.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,700 shares of the company's stock after acquiring an additional 55,000 shares during the period. Nadler Financial Group Inc.'s holdings in Cybin were worth $41,000 at the end of the most recent reporting period. Institutional investors own 17.94% of the company's stock.

About Cybin

(Get Free Report)

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.

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