Compass Pathways Sees Unusually Large Options Volume (NASDAQ:CMPS)

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) was the target of some unusual options trading on Monday. Investors bought 8,121 call options on the company. This is an increase of approximately 81% compared to the average daily volume of 4,494 call options.

Compass Pathways Stock Up 3.8%

Shares of CMPS traded up $0.39 during midday trading on Monday, reaching $10.76. 3,533,884 shares of the company were exchanged, compared to its average volume of 3,554,700. The stock has a 50-day moving average price of $7.23 and a 200-day moving average price of $6.74. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -3.40 and a beta of 2.39. Compass Pathways has a 1-year low of $2.25 and a 1-year high of $11.65. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.15.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Research analysts expect that Compass Pathways will post -0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

CMPS has been the subject of a number of recent analyst reports. B. Riley Financial initiated coverage on Compass Pathways in a research report on Friday, April 24th. They issued a “buy” rating and a $17.00 price objective for the company. Morgan Stanley lifted their price objective on Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen raised Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research report on Monday, April 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Compass Pathways in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Compass Pathways currently has a consensus rating of “Moderate Buy” and an average target price of $20.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CMPS. Royal Bank of Canada lifted its stake 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 worth $256,000 after purchasing an additional 29,733 shares in the last quarter. 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 purchasing an additional 71,112 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in shares of 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 purchasing an additional 1,350,698 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Compass Pathways by 38.0% during the second quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock worth $2,394,000 after purchasing an additional 235,345 shares in the last quarter. Finally, Northeast Financial Consultants Inc acquired a new position in shares of Compass Pathways during the second quarter worth about $59,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.