Cybin (OTCMKTS:CYBN) Stock Price Down 2.7%

Cybin Inc. (OTCMKTS:CYBN)’s share price fell 2.7% on Thursday . The company traded as low as $0.25 and last traded at $0.26. 10,370,205 shares were traded during trading, an increase of 119% from the average session volume of 4,725,861 shares. The stock had previously closed at $0.26.

Analyst Ratings Changes

Separately, Bloom Burton reaffirmed a “buy” rating on shares of Cybin in a research report on Thursday, May 2nd.

Cybin Stock Performance

The stock has a market cap of $111.34 million, a price-to-earnings ratio of -1.35 and a beta of 0.50. The business’s fifty day simple moving average is $0.32 and its 200 day simple moving average is $0.36.

Hedge Funds Weigh In On Cybin

A hedge fund recently raised its stake in Cybin stock. Nadler Financial Group Inc. boosted its position in Cybin Inc. (OTCMKTS:CYBN) by 125.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,700 shares of the company’s stock after buying an additional 55,000 shares during the quarter. Nadler Financial Group Inc.’s holdings in Cybin were worth $41,000 at the end of the most recent quarter. 17.94% of the stock is owned by institutional investors and hedge funds.

About Cybin

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.