Compass Pathways (NASDAQ:CMPS) Trading 9.7% Higher – What’s Next?
by Mitch Edgeman · The Markets DailyShares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS – Get Free Report) rose 9.7% during mid-day trading on Wednesday . The company traded as high as $5.78 and last traded at $5.7250. Approximately 1,165,389 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 2,995,550 shares. The stock had previously closed at $5.22.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Morgan Stanley reduced their target price on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research note on Wednesday, January 21st. Compass Point set a $15.00 price target on shares of Compass Pathways in a report on Thursday, February 12th. Finally, Royal Bank Of Canada increased their price objective on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Compass Pathways currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.88.
Get Our Latest Stock Analysis on CMPS
Compass Pathways Trading Up 7.7%
The firm has a market cap of $539.63 million, a PE ratio of -2.07 and a beta of 1.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $6.78 and a 200 day moving average price of $6.30.
Compass Pathways (NASDAQ:CMPS – Get Free Report) last posted its earnings results on Tuesday, March 24th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.20). Analysts forecast that Compass Pathways PLC Sponsored ADR will post -2.33 EPS for the current year.
Institutional Trading of Compass Pathways
Several institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its position in shares of Compass Pathways by 152.9% in the 4th quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after buying an additional 1,529,013 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Compass Pathways in the third quarter valued at $7,890,000. Nantahala Capital Management LLC boosted its stake 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 in the last quarter. Ameriprise Financial Inc. acquired a new position in Compass Pathways in the third quarter valued at $6,926,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Compass Pathways during the second quarter worth about $3,011,000. 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.