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Cybin Inc. (AMEX: CYBN) Stock’s Potential for Success in the Coming Months

In the latest trading session, 2.53 million Cybin Inc. (AMEX:CYBN) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $0.35 changing hands around $0.02 or 6.03% at last look, the market valuation stands at $106.99M. CYBN’s current price is a discount, trading about -100.0% off its 52-week high of $0.70. The share price had its 52-week low at $0.21, which suggests the last value was 40.0% up since then. When we look at Cybin Inc.’s average trading volume, we note the 10-day average is 3.73 million shares, with the 3-month average coming to 2.92 million.

Analysts gave the Cybin Inc. (CYBN) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.70. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CYBN as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Cybin Inc.’s EPS for the current quarter is expected to be -$0.05.

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Cybin Inc. (AMEX:CYBN) trade information

Instantly CYBN is in green as seen in intraday trades today. With action 6.09%, the performance over the past five days has been green. The jump to weekly highs of 0.3605 on Friday, 09/15/23 added 6.03% to the stock’s daily price. The company’s shares are showing year-to-date upside of 17.77%, with the 5-day performance at 6.09% in the green. However, in the 30-day time frame, Cybin Inc. (AMEX:CYBN) is 6.84% up. Looking at the short shares, we see there were 3.15 million shares sold at short interest cover period of 1.06 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.17, meaning bulls need an upside of 91.61% from its recent market value. According to analyst projections, CYBN’s forecast low is $0.74 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -2757.14% plunge from its current level, while the stock would need to soar -111.43% for it to hit the projected low.

Cybin Inc. (CYBN) estimates and forecasts

Data shows that the Cybin Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -10.26% over the past 6 months, a 5.26% in annual growth rate that is considerably lower than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cybin Inc. will rise 16.70%, while the growth in revenue is estimated to hit 33.30% for the next quarter.

The 2023 estimates are for Cybin Inc. earnings to increase by 36.70%.

CYBN Dividends

Cybin Inc. is expected to release its next quarterly earnings report in October.

Cybin Inc. (AMEX:CYBN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 21.99% of Cybin Inc. shares while 5.32% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 6.81%. There are 5.32% institutions holding the Cybin Inc. stock share, with AdvisorShares Investments, LLC the top institutional holder. As of Jun 29, 2023, the company held 1.08% of the shares, roughly 2.16 million CYBN shares worth $0.77 million.

Simplify Asset Management, Inc. holds the second largest percentage of outstanding shares, with 0.25% or 0.5 million shares worth $0.18 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were AdvisorShares Trust-AdvisorShares Psychedelics ETF and Simplify Exchange Traded Fds-Simplify Propel Opportunities ETF. With 2.06 million shares estimated at $0.73 million under it, the former controlled 1.03% of total outstanding shares. On the other hand, Simplify Exchange Traded Fds-Simplify Propel Opportunities ETF held about 0.25% of the shares, roughly 0.5 million shares worth around $0.18 million.

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