COMPASS Pathways (NASDAQ:CMPS) Trading 10.7% Higher – Time to Buy?

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares traded up 10.7% during trading on Thursday . The company traded as high as $5.50 and last traded at $5.6350. 856,251 shares were traded during trading, a decline of 52% from the average session volume of 1,802,302 shares. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

CMPS has been the subject of several research analyst reports. Morgan Stanley increased their price objective on COMPASS Pathways from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. BTIG Research lifted their target price on shares of COMPASS Pathways from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of COMPASS Pathways in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, COMPASS Pathways has an average rating of “Moderate Buy” and an average price target of $15.88.

COMPASS Pathways Stock Up 9.3%

The stock’s 50 day simple moving average is $5.90 and its two-hundred day simple moving average is $4.86. The firm has a market cap of $534.33 million, a P/E ratio of -2.05 and a beta of 1.93. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. As a group, research analysts forecast that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On COMPASS Pathways

Hedge funds have recently bought and sold shares of the company. Woodline Partners LP lifted its position in COMPASS Pathways by 279.9% in the 1st quarter. Woodline Partners LP now owns 1,754,856 shares of the company’s stock valued at $5,019,000 after acquiring an additional 1,292,927 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of COMPASS Pathways in the first quarter worth $657,000. Bridger Management LLC bought a new position in shares of COMPASS Pathways during the second quarter valued at $412,000. 22NW LP purchased a new stake in shares of COMPASS Pathways during the first quarter valued at $1,849,000. Finally, Vident Advisory LLC purchased a new stake in shares of COMPASS Pathways during the first quarter valued at $95,000. Institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Company Profile

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.