COMPASS Pathways (NASDAQ:CMPS) Posts Quarterly Earnings Results

COMPASS Pathways (NASDAQ:CMPS) posted its quarterly earnings results on Tuesday. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02, Zacks reports.

COMPASS Pathways Stock Down 17.2%

Shares of CMPS stock opened at $5.49 on Thursday. The stock’s fifty day moving average price is $5.76 and its 200 day moving average price is $4.65. COMPASS Pathways has a 1-year low of $2.25 and a 1-year high of $7.09. The company has a market cap of $526.71 million, a price-to-earnings ratio of -2.02 and a beta of 2.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.82 and a quick ratio of 8.82.

Hedge Funds Weigh In On COMPASS Pathways

Several hedge funds have recently modified their holdings of CMPS. Nantahala Capital Management LLC raised its position in shares of COMPASS Pathways by 47.7% in the 2nd 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. Balyasny Asset Management L.P. increased its stake 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 purchasing an additional 235,345 shares in the last quarter. Exome Asset Management LLC purchased a new position in shares of COMPASS Pathways in the second quarter worth $598,000. Acadian Asset Management LLC lifted its stake in shares of COMPASS Pathways by 42.0% during the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock worth $686,000 after buying an additional 71,112 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of COMPASS Pathways by 49.8% during the first quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock valued at $256,000 after buying an additional 29,733 shares during the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CMPS. Weiss Ratings reiterated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of COMPASS Pathways from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price target on shares of COMPASS Pathways in a research report on Friday, August 1st. BTIG Research upped their price objective on COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, HC Wainwright cut their target price on COMPASS Pathways from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

COMPASS Pathways Company 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.