Nikko Asset Management Americas Inc. Lowers Stock Position in COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS)

Nikko Asset Management Americas Inc. cut its stake in shares of COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) by 9.2% in the first quarter, HoldingsChannel reports. The fund owned 230,130 shares of the company’s stock after selling 23,215 shares during the period. Nikko Asset Management Americas Inc.’s holdings in COMPASS Pathways were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RTW Investments LP purchased a new position in COMPASS Pathways during the fourth quarter valued at approximately $11,714,000. Altium Capital Management LLC purchased a new position in shares of COMPASS Pathways during the 4th quarter valued at $5,384,000. Tang Capital Management LLC purchased a new position in shares of COMPASS Pathways during the 4th quarter valued at $3,780,000. Nantahala Capital Management LLC boosted its holdings in COMPASS Pathways by 400.0% in the 4th quarter. Nantahala Capital Management LLC now owns 1,000,000 shares of the company’s stock worth $3,780,000 after buying an additional 800,000 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in COMPASS Pathways in the 4th quarter worth $2,458,000. 46.19% of the stock is owned by hedge funds and other institutional investors.

COMPASS Pathways Stock Performance

NASDAQ:CMPS opened at $4.33 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 10.18 and a quick ratio of 10.18. The company has a market cap of $405.11 million, a price-to-earnings ratio of -2.18 and a beta of 2.12. COMPASS Pathways PLC Sponsored ADR has a 1 year low of $2.25 and a 1 year high of $8.54. The stock’s 50 day simple moving average is $4.01 and its two-hundred day simple moving average is $3.78.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. As a group, equities analysts anticipate that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

CMPS has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $45.00 price objective on shares of COMPASS Pathways in a research report on Tuesday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of COMPASS Pathways in a report on Tuesday, May 27th. Finally, Evercore ISI reiterated an “in-line” rating and set a $6.00 price objective (down previously from $11.00) on shares of COMPASS Pathways in a research report on Monday, June 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

COMPASS Pathways Profile

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.