Compass Pathways (NASDAQ:CMPS) Shares Up 9.6% Following Better-Than-Expected Earnings

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) rose 9.6% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $10.20 and last traded at $10.2670. Approximately 968,656 shares traded hands during trading, a decline of 72% from the average daily volume of 3,459,504 shares. The stock had previously closed at $9.37.

The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Compass Pathways in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday, April 20th. Morgan Stanley lowered their target price on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. BTIG Research reissued a “buy” rating and issued a $14.00 price objective on shares of Compass Pathways in a research report on Monday, April 20th. Finally, Jefferies Financial Group upgraded Compass Pathways to a “strong-buy” rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Institutional Investors Weigh In On Compass Pathways

A number of large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its holdings in Compass Pathways by 169.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 424,800 shares of the company’s stock valued at $2,931,000 after buying an additional 266,908 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Compass Pathways in the 3rd quarter valued at approximately $7,890,000. Propel Bio Management LLC acquired a new position in shares of Compass Pathways in the 3rd quarter worth approximately $2,922,000. Blue Owl Capital Holdings LP boosted its position in shares of Compass Pathways by 163.1% during the 3rd quarter. Blue Owl Capital Holdings LP now owns 604,914 shares of the company’s stock worth $3,466,000 after purchasing an additional 375,000 shares during the period. Finally, ARK Investment Management LLC raised its position in Compass Pathways by 28.6% in the third quarter. ARK Investment Management LLC now owns 2,121,118 shares of the company’s stock valued at $12,154,000 after purchasing an additional 471,897 shares during the period. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

Compass Pathways Stock Performance

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $7.01 and a 200 day moving average price of $6.65. The firm has a market capitalization of $1.32 billion, a PE ratio of -3.32 and a beta of 2.39.

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.