Cybin Inc
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Based in Canada
Company profile

Cybin Inc., formerly Clarmin Explorations Inc., is a Canada-based life sciences company. The Company is focused on developing psychedelic pharmaceutical and non-psychedelic nutraceutical-based products. Its subsidiaries include Natures Journey Inc. and Serenity Life Sciences Inc. Serenity Life Sciences Inc. is focused on research and development of psilocybin-based medications. Natures Journey Inc. operates the Journey brand, which specializes in developing medicinal mushroom products. It has a drug delivery platform developed to administer psychedelic therapies and bypass liver metabolism. The Company also focus is on the development of treatment regimens consisting of psychedelic molecules and related clinical protocols.

Price
Delayed
$1.62
Day's Change
-0.02 (-1.22%)
Bid
--
Ask
--
B/A Size
--
Day's High
1.66
Day's Low
1.55
Volume
(Light)

Today's volume of 200,207 shares is on pace to be much lighter than CLXPF's 10-day average volume of 781,796 shares.

200,207

UPDATE: Tesla stock price target more than doubled at UBS, as long-time skeptic sees EV leader 'winning' in software

7:55 am ET March 4, 2021 (MarketWatch)
Print

Tomi Kilgore

Analyst Patrick Hummel kept his rating at neutral, but boosted his price target to $730 from $325

A long-time skeptic on Tesla Inc. 's stock, UBS analyst Patrick Hummel, has more than doubled his stock price target, saying the narrative is no longer about the company's leadership in electric vehicles, it's about "winning" in software.

Hummel raised his price target to $730 from $325, while keeping his rating at neutral. His new target has swung to be 20% above the average target of the 34 analysts surveyed by FactSet -- $608.58 -- from being 46% below it.

He has been neutral on Tesla since March 2020, after being at sell or not rated since at least December 2017.

Tesla's stock (TSLA) slumped 4.8% to $653.20, the lowest close since Dec. 23, adding to Tuesday's decline of 4.5%. After falling 14.9% in February, the worst monthly performance since it tumbled 21.6% in March 2020, it has now lost 26.0% since closing at a record $883.09 on Jan. 26.

Hummel said that while legacy vehicle makers who are now "all-in" on electric vehicles can challenge Tesla's EV volume leadership, Tesla remains the undisputed technology leader in the space, most notably in software.

"This is the next battleground and main driver of valuation from here, in our view," Hummel wrote in a note to clients.

He said becoming one of the largest and most profitable original equipment manufacturers (OEMs) by 2030 is worth about $200 billion in market value for Tesla, in his base case analysis. That leaves more than $400 billion in market value for everything else, he said. Tesla's market capitalization as of Tuesday's close was $658.9 billion.

"We think the lion's share of this value can be generated by software, mainly autonomous driving," Hummel wrote. "With that, Tesla has the potential to become one of the most valuable software companies."

Tesla's stock has soared 335.8% over past 12 months, while legacy OEM General Motors Co. shares (GM) have rallied 67.1% and the S&P 500 index has advanced 22.0%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

March 04, 2021 07:55 ET (12:55 GMT)

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