Compass Pathways (NASDAQ:CMPS) Trading 9.5% Higher – Here’s Why

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded up 9.5% during mid-day trading on Friday . The stock traded as high as $13.09 and last traded at $13.0550. 2,837,289 shares traded hands during trading, a decline of 21% from the average session volume of 3,606,639 shares. The stock had previously closed at $11.92.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised Compass Pathways from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Canaccord Genuity Group reduced their price objective on Compass Pathways from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Morgan Stanley raised their price target on Compass Pathways from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Maxim Group raised their price target on Compass Pathways from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.36.

Compass Pathways Stock Performance

The firm has a market cap of $1.75 billion, a PE ratio of -4.13 and a beta of 2.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a 50-day moving average price of $8.08 and a 200 day moving average price of $7.08.

Compass Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Research analysts forecast that Compass Pathways PLC Sponsored ADR will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Compass Pathways by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock valued at $26,000 after purchasing an additional 1,920 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Compass Pathways during the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in Compass Pathways during the fourth quarter valued at about $47,000. Advisory Services Network LLC purchased a new stake in Compass Pathways during the third quarter valued at about $41,000. Finally, Parallel Advisors LLC grew its position in Compass Pathways by 8,450.6% during the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock valued at $40,000 after acquiring an additional 7,183 shares during the period. Hedge funds and other institutional investors own 46.19% of the company’s stock.

About Compass Pathways

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.