A Look at Cybin Inc. (CYBN) Shares in the Recent Past Indicates Growth

Cybin Inc. (AMEX: CYBN) stock jumped 1.23% on Monday to $0.41 against a previous-day closing price of $0.41. With 1.94 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.27 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4300 whereas the lowest price it dropped to was $0.3825. The 52-week range on CYBN shows that it touched its highest point at $1.16 and its lowest point at $0.26 during that stretch.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CYBN was down-trending over the past week, with a drop of -8.44%, but this was up by 43.80% over a month. Three-month performance dropped to -17.47% while six-month performance fell -26.94%. The stock lost -60.76% in the past year, while it has gained 38.67% so far this year. A look at the trailing 12-month EPS for CYBN yields -0.33 with Next year EPS estimates of -0.23. For the next quarter, that number is -0.07. This implies an EPS growth rate of -25.50% for this year and 19.00% for next year.

Float and Shares Shorts:

At present, 180.84 million CYBN shares are outstanding with a float of 147.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.1 million, which was 1.87% higher than short shares on Sep 14, 2022. In addition to Mr. Eric So L.L.B., LLB as the firm’s Co-Founder, Pres & Exec. Chairman, Mr. Douglas L. Drysdale serves as its Chief Exec. Officer.

Institutional Ownership:

Through their ownership of 13.17% of CYBN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of CYBN, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.27% stake in CYBN, the Horizons Psychedelic Stock Index is the largest stakeholder. A total of 2,237,606 shares are owned by the mutual fund manager. The AdvisorShares Psychedelics ETF, which owns about 0.95% of CYBN stock, is the second-largest Mutual Fund holder. It holds 1,678,331 shares valued at 0.5 million. Incrementum All Seasons Fund holds 0.06% of the stake in CYBN, owning 108,849 shares worth 32328.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CYBN since 6 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CYBN analysts setting a high price target of $10.00 and a low target of $1.12, the average target price over the next 12 months is $4.81. Based on these targets, CYBN could surge 2339.02% to reach the target high and rise by 173.17% to reach the target low. Reaching the average price target will result in a growth of 1073.17% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CYBN will report FY 2023 earnings on 06/21/2023. Analysts have provided yearly estimates in a range of -$0.16 being high and -$0.21 being low. For CYBN, this leads to a yearly average estimate of -$0.19. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cybin Inc. surprised analysts by -$0.00 when it reported -$0.04 EPS against a consensus estimate of -$0.04. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.05 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.05.

Summary of Insider Activity:

Insiders traded CYBN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 1,964,410 while 20,000 shares were sold.

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