Compass Pathways (NASDAQ:CMPS) Trading 7.7% Higher – Here’s What Happened

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price shot up 7.7% during mid-day trading on Thursday . The company traded as high as $9.44 and last traded at $9.4260. 3,428,185 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 3,421,528 shares. The stock had previously closed at $8.75.

Wall Street Analyst Weigh In

CMPS has been the topic of several research analyst reports. HC Wainwright increased their target price on Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Compass Point set a $15.00 price target on shares of Compass Pathways in a research report on Thursday, February 12th. Canaccord Genuity Group decreased their price objective on shares of 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 reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday. Finally, 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 research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.63.

Compass Pathways Stock Performance

The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.95 and a beta of 2.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50-day moving average of $6.54 and a 200 day moving average of $6.42.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.59). On average, analysts expect that Compass Pathways PLC Sponsored ADR will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in Compass Pathways by 49.8% in the first quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock valued at $256,000 after purchasing an additional 29,733 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Compass Pathways by 42.0% during the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock worth $686,000 after buying an additional 71,112 shares during the period. Nantahala Capital Management LLC raised its position in shares of Compass Pathways by 47.7% in the 2nd 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 during the period. Balyasny Asset Management L.P. boosted its stake in Compass Pathways by 38.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock worth $2,394,000 after acquiring an additional 235,345 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new stake in Compass Pathways in the second quarter valued at approximately $59,000. 46.19% of the stock is currently owned by institutional investors.

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.