Royal Bank of Canada Boosts Stock Holdings in Compass Pathways PLC Sponsored ADR $CMPS

Royal Bank of Canada grew its holdings in Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) by 35.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,526 shares of the company’s stock after purchasing an additional 63,358 shares during the quarter. Royal Bank of Canada owned approximately 0.18% of Compass Pathways worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in Compass Pathways by 42.0% during the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock valued at $686,000 after buying an additional 71,112 shares during the period. Nantahala Capital Management LLC lifted its holdings in Compass Pathways by 47.7% during the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after buying an additional 1,350,698 shares during the period. Balyasny Asset Management L.P. boosted its position in Compass Pathways by 38.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock valued at $2,394,000 after acquiring an additional 235,345 shares in the last quarter. Northeast Financial Consultants Inc bought a new stake in Compass Pathways during the 2nd quarter valued at $59,000. Finally, Exome Asset Management LLC purchased a new position in shares of Compass Pathways in the 2nd quarter valued at $598,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

Wall Street Analyst Weigh In

CMPS has been the subject of several recent research reports. Evercore raised Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research report on Friday, July 17th. TD Cowen reiterated a “buy” rating on shares of Compass Pathways in a research note on Monday, June 1st. Compass Point set a $25.00 target price on shares of Compass Pathways in a report on Tuesday, July 7th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Compass Pathways in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.36.

Compass Pathways Price Performance

NASDAQ CMPS opened at $14.01 on Thursday. The firm’s fifty day simple moving average is $12.78 and its two-hundred day simple moving average is $9.73. The firm has a market capitalization of $1.94 billion, a P/E ratio of -3.03 and a beta of 2.50. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Compass Pathways PLC Sponsored ADR has a 12-month low of $3.97 and a 12-month high of $15.40.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of ($0.39) by ($1.49). Analysts forecast that Compass Pathways PLC Sponsored ADR will post -1.26 EPS for the current fiscal year.

Compass Pathways Company Profile

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.