Compass Pathways (NASDAQ:CMPS) Hits New 1-Year High – Here’s What Happened

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) reached a new 52-week high during trading on Friday . The stock traded as high as $12.03 and last traded at $11.59, with a volume of 6198094 shares traded. The stock had previously closed at $10.87.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMPS. Jefferies Financial Group raised shares of Compass Pathways to a “strong-buy” rating in a research note on Tuesday, May 5th. UBS Group set a $18.00 price target on shares of Compass Pathways in a research note on Thursday, May 7th. Wall Street Zen raised Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday, April 20th. Finally, Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Compass Pathways currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.58.

Compass Pathways Stock Up 6.6%

The stock has a market cap of $1.56 billion, a P/E ratio of -3.68 and a beta of 2.39. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $7.54 and its 200 day moving average is $6.87.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. As a group, equities research analysts forecast that Compass Pathways PLC Sponsored ADR will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Compass Pathways

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in shares of Compass Pathways by 49.8% in the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock worth $256,000 after buying an additional 29,733 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Compass Pathways by 42.0% in the 1st 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 in the last quarter. Nantahala Capital Management LLC grew its position 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 acquiring an additional 1,350,698 shares during the period. Balyasny Asset Management L.P. grew its position in Compass Pathways by 38.0% in the second 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 during the period. Finally, Northeast Financial Consultants Inc acquired a new position in Compass Pathways during the second quarter worth $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.