Market cap of Cybin Inc [CYBN] reaches 103.83M – now what?

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Cybin Inc [AMEX: CYBN] traded at a low on 11/10/23, posting a -15.31 loss after which it closed the day’ session at $0.43. The company report on November 10, 2023 at 8:03 AM that Cybin Announces up to US$64 Million Offering of Units.

Cybin Inc. (NYSE American:CYBN) (NEO:CYBN) (“Cybin” or the “Company”), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative next-generation psychedelic treatment options, is pleased to announce a firm commitment underwritten offering (the “Offering”) of 66,666,667 units of the Company (the “Units”) to one of the Company’s largest existing institutional shareholders and new institutional investors at a price of US$0.45 per Unit for gross proceeds of approximately US$30 million. Approximately US$30 million will be funded in full upon the closing of the Offering, and up to an additional US$34 million may be funded upon full exercise of the Warrants (as defined below).

Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one Common Share at a price of US$0.51 per Common Share for a period beginning on the date that 6 months after issuance until the date that is 60 months after the date of initial exercisability, subject to acceleration in certain circumstances.

The results of the trading session contributed to over 13234357 shares changing hands. Over the past one week, the price volatility of Cybin Inc stands at 9.52% while the volatility over the past one month is 10.79%.

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The market cap for CYBN stock reached $103.83 million, with 195.33 million shares outstanding and 183.40 million shares in the current float. Compared to the average trading volume of 4.62M shares, CYBN reached a trading volume of 13234357 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cybin Inc [CYBN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CYBN shares is $5.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CYBN stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Maxim Group have made an estimate for Cybin Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 19, 2021.

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The Average True Range (ATR) for Cybin Inc is set at 0.06 The Price to Book ratio for the last quarter was 3.05, with the Price to Cash per share for the same quarter was set at 0.03.

How has CYBN stock performed recently?

Cybin Inc [CYBN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.13. With this latest performance, CYBN shares dropped by -28.67% in over the last four-week period, additionally plugging by 41.49% over the last 6 months – not to mention a drop of -3.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CYBN stock in for the last two-week period is set at 37.74, with the RSI for the last a single of trading hit 30.09, and the three-weeks RSI is set at 42.40 for Cybin Inc [CYBN]. The present Moving Average for the last 50 days of trading for this stock 0.4989, while it was recorded at 0.5131 for the last single week of trading, and 0.3990 for the last 200 days.

Cybin Inc [CYBN]: Deeper insight into the fundamentals

Return on Total Capital for CYBN is now -82.83, given the latest momentum, and Return on Invested Capital for the company is -76.36. Return on Equity for this stock declined to -76.36, with Return on Assets sitting at -68.85.

Cybin Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.61 and a Current Ratio set at 2.61.

Insider trade positions for Cybin Inc [CYBN]

The top three institutional holders of CYBN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CYBN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CYBN stock with ownership which is approximately 5.7994%.

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