Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) Short Interest Update

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 8,892,595 shares, a growth of 39.5% from the March 15th total of 6,376,695 shares. Approximately 9.6% of the shares of the stock are sold short. Based on an average daily volume of 2,293,910 shares, the days-to-cover ratio is currently 3.9 days.

Compass Pathways Price Performance

Shares of Compass Pathways stock traded up $0.62 during trading on Thursday, hitting $6.58. 8,746,041 shares of the stock traded hands, compared to its average volume of 2,807,660. The firm’s fifty day moving average is $6.34 and its 200-day moving average is $6.34. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.55. Compass Pathways has a 52 week low of $2.25 and a 52 week high of $8.90. The stock has a market cap of $631.33 million, a price-to-earnings ratio of -2.11 and a beta of 2.01.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.59). Research analysts expect that Compass Pathways will post -2.33 EPS for the current fiscal year.

Analyst Ratings Changes

CMPS has been the topic of several recent research reports. Canaccord Genuity Group reduced their price objective on Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Compass Point set a $15.00 price objective on Compass Pathways in a research report on Thursday, February 12th. HC Wainwright increased their price objective on Compass Pathways from $40.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada increased their price objective on Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Morgan Stanley reduced their price objective on Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.63.

Hedge Funds Weigh In On Compass Pathways

Several institutional investors and hedge funds have recently bought and sold shares of CMPS. Toronto Dominion Bank grew its position in Compass Pathways by 152.9% during the 4th quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock worth $17,447,000 after acquiring an additional 1,529,013 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Compass Pathways during the 3rd quarter worth approximately $7,890,000. Nantahala Capital Management LLC grew its position in Compass Pathways by 47.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after acquiring an additional 1,350,698 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Compass Pathways during the 3rd quarter worth approximately $6,926,000. Finally, Siren L.L.C. bought a new position in Compass Pathways during the 4th quarter worth approximately $6,900,000. 46.19% of the stock is currently owned by institutional investors.

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.