Cybin Inc [AMEX: CYBN] gained 10.37% on the last trading session, reaching $0.46 price per share at the time. The company report on March 19, 2024 at 11:53 AM that Cybin Announces Closing of the Oversubscribed Private Placement of U.S. $150 Million.
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Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN) (“Cybin” or the “Company”), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative next-generation psychedelic-based treatment options, is pleased to announce the closing of the Company’s previously announced private placement (the “Private Placement”) of 348,837,210 common shares in the capital of the Company (the “Common Shares”) at a price of U.S.$0.43 per Common Share. Aggregate gross proceeds from the Private Placement were U.S.$150,000,000 before deducting fees and expenses of the offering.
If compared to the average trading volume of 5.35M shares, CYBN reached a trading volume of 12326663 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $4.88 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.
The Average True Range (ATR) for Cybin Inc is set at 0.03 The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 0.07.
Trading performance analysis for CYBN stock
Cybin Inc [CYBN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.90. With this latest performance, CYBN shares gained by 40.33% in over the last four-week period, additionally sinking by -18.75% over the last 6 months – not to mention a rise of 20.29% 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 64.10, with the RSI for the last a single of trading hit 68.03, and the three-weeks RSI is set at 60.94 for Cybin Inc [CYBN]. The present Moving Average for the last 50 days of trading for this stock 0.3794, while it was recorded at 0.4301 for the last single week of trading, and 0.4148 for the last 200 days.
Cybin Inc [CYBN]: A deeper dive into fundamental analysis
Cybin Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.76 and a Current Ratio set at 5.76.
Cybin Inc [CYBN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cybin Inc posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CYBN.
An analysis of Institutional ownership at Cybin Inc [CYBN]
The top three institutional holders of CYBN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CYBN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CYBN stock with ownership which is approximately 5.8386%.
