Compass Pathways (NASDAQ:CMPS) Stock Price Down 1.8% – Time to Sell?

by · The Markets Daily

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS – Get Free Report) dropped 1.8% during trading on Thursday. The company traded as low as $11.43 and last traded at $11.63. Approximately 1,340,930 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 2,795,700 shares. The stock had previously closed at $11.84.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CMPS shares. Morgan Stanley boosted their price target on shares of Compass Pathways from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Evercore raised Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Wednesday, July 8th. Oppenheimer reiterated an “outperform” rating on shares of Compass Pathways in a research report on Wednesday, August 5th. Royal Bank Of Canada reduced their target price on Compass Pathways from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Wells Fargo & Company assumed coverage on Compass Pathways in a report on Monday, July 27th. They issued an “equal weight” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.36.

Check Out Our Latest Research Report on Compass Pathways

Compass Pathways Trading Down 3.9%

The business’s 50-day moving average is $13.10 and its two-hundred day moving average is $11.87. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $1.55 billion, a PE ratio of -2.42 and a beta of 2.55.

Compass Pathways (NASDAQ:CMPS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($1.49). As a group, equities research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Compass Pathways by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after acquiring an additional 1,920 shares in the last quarter. WINTON GROUP Ltd lifted its holdings in Compass Pathways by 20.1% in the second quarter. WINTON GROUP Ltd now owns 17,900 shares of the company’s stock valued at $253,000 after acquiring an additional 3,000 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Compass Pathways during the 2nd quarter worth $43,000. TD Waterhouse Canada Inc. boosted its position in shares of Compass Pathways by 10.9% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 33,622 shares of the company’s stock worth $401,000 after purchasing an additional 3,316 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Compass Pathways during the 4th quarter worth $47,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

About Compass Pathways

(Get Free Report)

Compass Pathways plc is a biotechnology company developing novel treatments for mental health conditions. The company’s lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.

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