Compass Pathways (NASDAQ:CMPS) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Compass Pathways (NASDAQ:CMPS) from a hold rating to a strong sell rating in a research note released on Saturday morning.

CMPS has been the subject of several other reports. Jefferies Financial Group restated a “buy” rating on shares of Compass Pathways in a research report on Tuesday, July 7th. Royal Bank Of Canada cut their price objective on Compass Pathways from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday. UBS Group set a $18.00 target price on Compass Pathways in a research note on Thursday, May 7th. Evercore upgraded Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Wednesday, July 8th. Finally, Wells Fargo & Company initiated coverage on Compass Pathways in a research report on Monday, July 27th. They issued an “equal weight” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.36.

Compass Pathways Stock Performance

Shares of CMPS stock opened at $13.18 on Friday. The firm’s 50 day moving average price is $12.57 and its 200-day moving average price is $9.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. Compass Pathways has a one year low of $3.97 and a one year high of $15.40. The firm has a market cap of $1.78 billion, a P/E ratio of -2.85 and a beta of 2.50.

Compass Pathways (NASDAQ:CMPS) last posted its earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($1.49). As a group, equities research analysts predict that Compass Pathways will post -1.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMPS. RTW Investments LP lifted its stake in Compass Pathways by 0.6% during the fourth quarter. RTW Investments LP now owns 8,757,390 shares of the company’s stock worth $60,426,000 after purchasing an additional 50,000 shares during the last quarter. Nantahala Capital Management LLC increased its stake in 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 purchasing an additional 1,350,698 shares during the last quarter. Millennium Management LLC increased its stake in Compass Pathways by 39.9% in the third quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock valued at $15,562,000 after purchasing an additional 774,090 shares during the last quarter. Toronto Dominion Bank raised its holdings in Compass Pathways by 152.9% during the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock worth $17,447,000 after purchasing an additional 1,529,013 shares in the last quarter. Finally, ARK Investment Management LLC raised its holdings in Compass Pathways by 1.6% during the fourth quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock worth $14,876,000 after purchasing an additional 34,894 shares in the last quarter. 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.