HC Wainwright Has Negative Outlook for Cybin FY2029 Earnings

Cybin Inc. (NYSE:CYBN) – Analysts at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for Cybin in a report issued on Monday, January 27th. HC Wainwright analyst P. Trucchio now anticipates that the company will post earnings of $8.87 per share for the year, down from their previous forecast of $9.57. HC Wainwright has a “Buy” rating and a $190.00 price target on the stock. The consensus estimate for Cybin’s current full-year earnings is ($4.88) per share.

Separately, Canaccord Genuity Group dropped their price target on Cybin from $96.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Cybin Trading Up 1.9 %

NYSE:CYBN opened at $9.77 on Wednesday. The company has a market cap of $195.30 million, a P/E ratio of -1.47 and a beta of 0.44. The business’s 50 day moving average price is $9.78. Cybin has a 52 week low of $6.50 and a 52 week high of $19.85.

Hedge Funds Weigh In On Cybin

A hedge fund recently bought a new stake in Cybin stock. Sanctuary Advisors LLC acquired a new position in Cybin Inc. (NYSE:CYBN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 131,252 shares of the company’s stock, valued at approximately $36,000. Institutional investors and hedge funds own 17.94% of the company’s stock.

About Cybin

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.