Compass Pathways (NASDAQ:CMPS) Trading Up 7.3% – Here’s Why

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price was up 7.3% during trading on Friday . The stock traded as high as $12.10 and last traded at $12.2380. Approximately 637,011 shares changed hands during trading, a decline of 83% from the average daily volume of 3,641,847 shares. The stock had previously closed at $11.41.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CMPS shares. BTIG Research reiterated a “buy” rating and set a $14.00 price target on shares of Compass Pathways in a research note on Wednesday, May 13th. B. Riley Financial started coverage on shares of Compass Pathways in a research note on Friday, April 24th. They set a “buy” rating and a $17.00 price target on the stock. Morgan Stanley lifted their price target on shares of Compass Pathways from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Canaccord Genuity Group cut their price target on shares of Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Compass Point set a $15.00 price target on shares of Compass Pathways in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned 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.com, Compass Pathways currently has a consensus rating of “Moderate Buy” and an average price target of $21.36.

Compass Pathways Trading Up 6.7%

The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 3.32. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -3.89 and a beta of 2.50. The business’s 50 day simple moving average is $9.46 and its 200 day simple moving average is $7.57.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -1.24 EPS for the current year.

Institutional Trading of Compass Pathways

Several hedge funds and other institutional investors have recently made changes to their positions in CMPS. Toronto Dominion Bank boosted its holdings in shares of Compass Pathways by 152.9% in the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after acquiring an additional 1,529,013 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Compass Pathways in the third quarter valued at about $7,890,000. Nantahala Capital Management LLC boosted its holdings in shares of Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after acquiring an additional 1,350,698 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Compass Pathways in the third quarter valued at about $6,926,000. Finally, Orbimed Advisors LLC purchased a new stake in shares of Compass Pathways in the first quarter valued at about $6,363,000. Hedge funds and other institutional investors 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.