CYBN Stock Forecast 2023: Latest Price

Article Coverage: CYBN Stock Performance, Latest CYBN News, Aggregated Forecasts, CYBN Latest Production Update, Reasons to Buy or Sell CYBN Stock, CYBN Investor Day Analysis, FAQs and Other detailed analysis.

Cybin Inc. (CYBN) is a Canadian biopharmaceutical company focused on the development of psychedelic-based therapeutics for mental health disorders. The company was founded in 2019 and is headquartered in Toronto, Ontario. CYBN was registered on the Neo Exchange on September 17, 2020, and on the NYSE American on November 19, 2020.

CYBN Stock Performance in the Last 12 Months

• Last 1 Months: +28.6%
• Last 12 Months: +26.6%
• Post Listing (2019): -18.2%

Cybin Inc (CYBN) Stock Forecast 2023: Analysts

CYBN Target Price	$5
Cantor Fitzgerald	$3
Canaccord Genuity	$5
Oppenheimer	$4
HC Wainwright & Co.	$10
EF Hutton	$3

Cybin Stock Forecast 2023, 2025-2030, Aggregated

• Cybin Inc (CYBN) Price Prediction 2023 is $0.484
• Cybin Inc (CYBN) Price Prediction 2024 is $0.924
• Cybin Inc (CYBN) Price Prediction 2025 is $1.16
• Cybin Inc (CYBN) Price Prediction 2026 is $1.36
• Cybin Inc (CYBN) Price Prediction 2027 is $1.56
• Cybin Inc (CYBN) Price Prediction 2028 is $1.66
• Cybin Inc (CYBN) Price Prediction 2029 is $1.76
• Cybin Inc (CYBN) Price Prediction 2030 is $1.86

Cybin Inc (CYBN) Stock Forecast Today, Tomorrow and Week

• Cybin Inc (CYBN) Price Prediction in the next 24 hours is between $0.384 and $0.412
• Cybin Inc (CYBN) Price Prediction this week is between $0.424 and $0.471

Cybin Inc (CYBN) Stock Forecast 2023: Will CYBN reach $1 in 2023?

It is unlikely that CYBN stock will reach $1 in 2023. The stock is currently trading at around $0.63, and it would need to increase by approximately 59% in value to reach $1.

There are a few reasons why it is unlikely that CYBN stock will reach $1 in 2023. First, the company is still in the early stages of development and is not yet generating significant revenue. Second, the psychedelic drug industry is still in its early stages, and there is no guarantee that Cybin’s drugs will be successful in clinical trials or approved by regulators. Third, the stock market is currently in a bear market, and this is making it difficult for most stocks to rise in value.

However, there are some factors that could support CYBN stock in the long term. First, the company has a strong pipeline of psychedelic-based drugs, including drugs for depression, anxiety, and addiction. Second, the psychedelic drug industry is expected to grow rapidly in the coming years, as more and more research is done on the potential benefits of psychedelic drugs.

Overall, it is unlikely that CYBN stock will reach $1 in 2023. However, the company has a strong pipeline of drugs and is well-positioned to benefit from the growth of the psychedelic drug industry in the coming years.

CYBN Quarterly Financial Results

First Quarter, 2023

Cybin Inc. (CYBN) reported the following financial results for the quarter ended June 30, 2023:

• Revenue: C$0.2 million
• Net loss: C$14.5 million
• Adjusted EBITDA: C$(11.2) million

The company’s revenue was primarily generated from research and development agreements, licensing agreements, and grant income. Cybin’s net loss increased from C$13.1 million in the same period last year, primarily due to increased research and development expenses.

Cybin’s adjusted EBITDA loss improved from C$(13.4) million in the same period last year, due to a decrease in operating expenses. The company’s cash balance totaled C$9.3 million as of June 30, 2023.

Overall, Cybin’s financial results for the quarter ended June 30, 2023, were in line with expectations. The company is making progress on its clinical trials and advancing its pipeline of psychedelic-based therapies. However, the company remains in the early stages of development and is not yet generating significant revenue.

CYBN Stock Forecast 2023: How High Will CYBN Go in 2023?

It is difficult to predict how high CYBN stock will go in 2023. The stock is very volatile, and its price can be affected by a number of factors, including news about the company’s clinical trials, regulatory approvals, and the overall state of the stock market.

Analysts have a consensus price target of $0.60 for CYBN stock in 2023, but the current share price of $0.63 has reached the consensus price target of $0.60. However, some analysts believe that the stock could go even higher, with some setting price targets as high as $1.00.

Here are some factors that could affect CYBN stock in 2023:

• Results from the company’s clinical trials
• Regulatory approvals for the company’s drugs
• Growth of the psychedelic drug industry
• Investor interest in psychedelic drug companies

Overall, it is impossible to say for sure how high CYBN stock will go in 2023. Investors should carefully consider the risks and rewards before investing in CYBN stock. The stock is a high-risk, high-reward investment. Investors should only invest money that they can afford to lose.

Cybin Inc (CYBN) Stock Forecast 2023: Is CYBN a good stock to buy?

Here are some reasons why some investors might choose to buy CYBN stock:

• Strong pipeline of psychedelic drugs: Cybin has a strong pipeline of psychedelic-based drugs, including drugs for depression, anxiety, and addiction. The company’s lead drug, CYB003, is currently in Phase 2a clinical trials for depression.
• Growth of the psychedelic drug industry: The psychedelic drug industry is expected to grow rapidly in the coming years, as more and more research is done on the potential benefits of psychedelic drugs.
• Low valuation: Cybin stock is currently trading at a relatively low valuation, which means that investors could potentially buy the stock at a good price.

CYBN Stock Forecast 2023: Reasons Not to Buy CYBN Stock

Here are some reasons why some investors might choose not to buy CYBN stock:

• Early stage company: Cybin is a very early stage company that is still in the process of developing its pipeline of psychedelic drugs. The company has not yet generated any revenue from the sale of its drugs, and it is likely to be several years before it does so.
• High-risk investment: Investing in early stage companies is inherently risky. There is no guarantee that Cybin’s drugs will be successful in clinical trials or approved by regulators. Even if the company’s drugs are approved, there is no guarantee that they will be commercially successful.
• Volatile stock: CYBN stock is a very volatile stock. This means that its price can fluctuate wildly over short periods of time. This volatility can make it difficult to time your entry and exit points from the stock.
• Competition: Cybin is facing increasing competition from other companies that are developing psychedelic drugs. This competition could make it difficult for Cybin to succeed in the market.

It is important to note that all investments carry risk, and CYBN stock is no exception. The company is still in the early stages of development and is not yet generating significant revenue.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.