Compass Pathways (NASDAQ:CMPS) Shares Up 5.9% – Still a Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded up 5.9% on Monday . The company traded as high as $14.00 and last traded at $14.1150. Approximately 1,467,043 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 3,650,261 shares. The stock had previously closed at $13.33.

Analysts Set New Price Targets

Several analysts have commented on CMPS shares. Royal Bank Of Canada dropped their price objective on Compass Pathways from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Wolfe Research reiterated an “outperform” rating on shares of Compass Pathways in a research report on Tuesday, July 7th. B. Riley Financial lifted their price target on shares of Compass Pathways from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Canaccord Genuity Group boosted their price target on shares of Compass Pathways from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, Morgan Stanley upped their price objective on shares of Compass Pathways from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.36.

Compass Pathways Stock Up 4.8%

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $12.97 and a two-hundred day simple moving average of $9.94. The company has a market cap of $2.06 billion, a PE ratio of -3.22 and a beta of 2.50.

Compass Pathways (NASDAQ:CMPS) last issued its earnings results on Wednesday, August 5th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($1.49). As a group, equities research analysts predict 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 and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its stake in Compass Pathways by 152.9% during the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock worth $17,447,000 after buying an additional 1,529,013 shares during the last quarter. Nantahala Capital Management LLC boosted its position in shares of Compass Pathways by 47.7% during 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 last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Compass Pathways in the third quarter valued at about $6,926,000. Orbimed Advisors LLC acquired a new stake in Compass Pathways during the first quarter worth about $6,363,000. Finally, Siren L.L.C. purchased a new position in Compass Pathways during the fourth quarter worth about $6,900,000. Institutional investors and hedge funds 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.