Compass Pathways (NASDAQ:CMPS) Sees Large Volume Increase – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares saw unusually-high trading volume on Thursday . Approximately 5,826,031 shares traded hands during trading, an increase of 116% from the previous session’s volume of 2,698,066 shares.The stock last traded at $6.50 and had previously closed at $5.96.

Analyst Upgrades and Downgrades

CMPS has been the topic of a number of research analyst reports. HC Wainwright raised their target price on shares of Compass Pathways from $40.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. Royal Bank Of Canada lifted their price target on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Compass Point set a $15.00 price target on shares of Compass Pathways in a report on Thursday, February 12th. Finally, Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.63.

Compass Pathways Trading Up 7.5%

The company has a market cap of $615.01 million, a price-to-earnings ratio of -2.06 and a beta of 2.01. The business’s fifty day moving average price is $6.34 and its 200 day moving average price is $6.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.59). Research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

Hedge funds and other institutional investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new position in Compass Pathways in the fourth quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Compass Pathways in the fourth quarter valued at $47,000. Advisory Services Network LLC acquired a new position in Compass Pathways in the third quarter valued at $41,000. BIT Capital GmbH acquired a new position in Compass Pathways in the third quarter valued at $54,000. Finally, MML Investors Services LLC acquired a new position in Compass Pathways in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

About Compass Pathways

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.