Compass Pathways (NASDAQ:CMPS) Shares Down 7.3% – What’s Next?

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded down 7.3% on Wednesday . The stock traded as low as $8.17 and last traded at $8.5780. 1,959,311 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 3,343,782 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Compass Point set a $15.00 target price on Compass Pathways in a research note on Thursday, February 12th. Canaccord Genuity Group lowered their target price on Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. BTIG Research reiterated a “buy” rating and issued a $14.00 target price on shares of Compass Pathways in a research note on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.63.

Compass Pathways Stock Performance

The stock has a 50-day simple moving average of $6.60 and a 200 day simple moving average of $6.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $1.18 billion, a PE ratio of -2.96 and a beta of 2.01.

Compass Pathways (NASDAQ:CMPS) last posted its 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). Equities analysts anticipate that Compass Pathways PLC Sponsored ADR will post -1.68 EPS for the current fiscal year.

Institutional Trading of Compass Pathways

A number of institutional investors have recently bought and sold shares of CMPS. Hennion & Walsh Asset Management Inc. lifted its position in shares of Compass Pathways by 169.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company’s stock valued at $2,931,000 after acquiring an additional 266,908 shares in the last quarter. Simplify Asset Management Inc. purchased a new stake in shares of Compass Pathways in the third quarter valued at $1,662,000. Jefferies Financial Group Inc. purchased a new stake in shares of Compass Pathways in the third quarter valued at $7,890,000. Propel Bio Management LLC purchased a new stake in shares of Compass Pathways in the third quarter valued at $2,922,000. Finally, Blue Owl Capital Holdings LP lifted its position in shares of Compass Pathways by 163.1% in the third quarter. Blue Owl Capital Holdings LP now owns 604,914 shares of the company’s stock valued at $3,466,000 after acquiring an additional 375,000 shares in the last quarter. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

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.