Cybin Inc. (NYSE-A:CYBN, NEO:CYBN) experienced a remarkable surge in its shares on September 18, 2023, following a significant investment from renowned billionaire investor Steve Cohen’s hedge fund, Point72 Asset Management. The hedge fund purchased an impressive 19 million shares of Cybin Inc., propelling the stock to finish the day an astounding 38.5% higher. This unexpected development has undoubtedly captured the attention of both seasoned investors and market enthusiasts alike.
What makes Cybin Inc.’s ownership structure even more intriguing is the diverse mix of institutional, retail, and individual investors involved. It is worth noting that institutional investors currently hold approximately 1.53% of the company’s stock, further highlighting the growing interest in the company’s potential within the investment community.
This recent surge in Cybin Inc.’s shares demonstrates the confidence and trust placed in the company’s future prospects, particularly with the backing of esteemed investors such as Steve Cohen. As the market continues to react to this exciting news, it will be fascinating to observe how Cybin Inc. capitalizes on this newfound momentum and navigates the path to success in the evolving landscape of the pharmaceutical industry.
Updated on: 18/09/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
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CYBN Stock: Mixed Performance on September 18, 2023 with Volatile Trading Day and Limited Future Growth Data
CYBN stock had a mixed performance on September 18, 2023. The stock had a previous close of $0.33 and opened at $0.34. Throughout the day, the stock traded within a range of $0.34 to $0.47. The trading volume for the day was 20,477,933 shares, significantly higher than the average volume of 2,622,543 shares over the past three months. The market cap of CYBN is $77.4 million.
When looking at the earnings growth, CYBN experienced a positive growth of 39.95% in the previous year. However, there is no information available regarding the earnings growth for the current year or the next five years. Similarly, there is no data provided for the revenue growth in the last year.
The Price/Book ratio is 1.86, which indicates that the stock is trading at a reasonable valuation in relation to its book value.
CYBN operates in the Health Technology sector and falls under the Pharmaceuticals: Major industry. The company is headquartered in Toronto, Ontario.
Looking ahead, the next reporting date for CYBN is November 29, 2023. The EPS forecast for the current quarter is -$0.04. In the previous year, the company reported annual revenue of $0.00 and a net profit of -$35.9 million.
Overall, CYBN stock had a volatile trading day on September 18, 2023, with a wide price range and high trading volume. The company’s earnings growth in the previous year was positive, but there is limited information available regarding future earnings and revenue growth. Investors should closely monitor the upcoming reporting date and the company’s financial performance to make informed investment decisions.
CYBN Stock Analysis: Strong Performance and Potential Growth in 2023
CYBN stock had a strong performance on September 18, 2023, with a last price of $0.46 and a median target of $3.50, representing a potential increase of 669.23%. The analysts’ forecasts for CYBN stock ranged from $0.74 to $10.00, indicating uncertainty but suggesting significant upside potential. The consensus among six polled investment analysts is to buy stock in Cybin Inc., indicating a consistent positive sentiment. CYBN is a relatively new company, and its financial performance is still developing, with reported earnings per share of -$0.04 and sales of $0.00 for the current quarter. Investors should watch for CYBN’s upcoming reporting date on November 29 for further insights. While CYBN has performed well and has potential for growth, investors should conduct their own research and consider the risks associated with investing in a new and developing company.