Compass Pathways (NASDAQ:CMPS) Sees Large Volume Increase – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares saw unusually-strong trading volume on Thursday . Approximately 5,826,031 shares traded hands during trading, an increase of 116% from the previous session’s volume of 2,698,066 shares.The stock last traded at $6.50 and had previously closed at $5.96.

Analysts Set New Price Targets

Several analysts have issued reports on CMPS shares. HC Wainwright boosted their price objective on Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Canaccord Genuity Group cut their price objective on Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. Morgan Stanley cut their price objective on Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Finally, Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Compass Pathways currently has a consensus rating of “Moderate Buy” and an average price target of $21.63.

Compass Pathways Price Performance

The company has a market cap of $639.49 million, a price-to-earnings ratio of -2.16 and a beta of 2.01. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $6.37 and a two-hundred day moving average price of $6.35.

Compass Pathways (NASDAQ:CMPS) last issued its earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.59). On average, equities analysts predict that Compass Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On Compass Pathways

Hedge funds have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in Compass Pathways in the fourth quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Compass Pathways in the fourth quarter worth approximately $47,000. Advisory Services Network LLC acquired a new position in Compass Pathways in the third quarter worth approximately $41,000. BIT Capital GmbH acquired a new position in Compass Pathways in the third quarter worth approximately $54,000. Finally, MML Investors Services LLC acquired a new position in Compass Pathways in the fourth quarter worth approximately $69,000. 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.