Canaccord lowered the firm’s price target on Cybin to $5 from $6 and keeps a Buy rating on the shares. The firm met with management and came continuing to believe the company remains significantly undervalued relative to the size of the indications it is targeting and with its recently closed offering, updated its model to reflect slight dilution.
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Read More on CYBN:
- Cybin announces public offering of units
- Cybin teams with research firm Worldwide Clinical Trials to develop CYB003
- Cybin completes dosing in Cohort 5 in Phase 2 trial of CYB003
- Cybin says study validates Kernel’s flow1 neuroimaging technology
- Cybin price target lowered to $6.00 from $7.00 at Canaccord
