Why Cybin Inc (AMEX: CYBN) Stock Should Not Be Taken For Granted By Investors In 2024

In the last trading session, 2.93 million shares of the Cybin Inc (AMEX:CYBN) were traded. Most recently the company’s share price was $0.42, and it changed around $0.0 or -1.06% from the last close, which brings the market valuation of the company to $174.62M. CYBN currently trades at a discount to its 52-week high of $0.74, offering almost -76.19% off that amount. The share price’s 52-week low was $0.21, which indicates that the current value has risen by an impressive 50.0% since then. We note from Cybin Inc’s average daily trading volume that its 10-day average is 5.52 million shares, with the 3-month average coming to 5.35 million.

Cybin Inc (AMEX:CYBN) trade information

Instantly CYBN has showed a red trend with a performance of -1.06% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 2.34% year-to-date, but still down -1.96% over the last five days. On the other hand, Cybin Inc (AMEX:CYBN) is 25.25% up in the 30-day period. We can see from the shorts that 9.35 million shares have been sold at a short interest cover period of 3.14 day(s).

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Cybin Inc (CYBN) estimates and forecasts

Cybin Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -21.04 percent over the past six months and at a -15.79% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 42.90% in revenue this quarter, and will report an increase of 85.70% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -68.39%.

CYBN Dividends

Cybin Inc’s next quarterly earnings report is expected to be released in May.

Cybin Inc (AMEX:CYBN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 6.66% of Cybin Inc shares, and 23.14% of them are in the hands of institutional investors. The stock currently has a share float of 24.79%. Cybin Inc stock is held by 93 institutions, with AdvisorShares Investments, LLC being the largest institutional investor. By Jun 29, 2023, it held 0.84% of the shares, which is about 2.16 million shares worth $0.82 million.

Simplify Asset Management, Inc., with 0.19% or 0.5 million shares worth $0.19 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

AdvisorShares Trust-AdvisorShares Psychedelics ETF and Simplify Exchange Traded Fds-Simplify Propel Opportunities ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 1.95 million shares worth $1.04 million, making up 0.76% of all outstanding shares. On the other hand, Simplify Exchange Traded Fds-Simplify Propel Opportunities ETF held roughly 0.5 million shares worth around $0.19 million, which represents about 0.19% of the total shares outstanding.