Compass Pathways (NASDAQ:CMPS) Stock Rating Upgraded by Wall Street Zen

Compass Pathways (NASDAQ:CMPS) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday, Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. Evercore raised shares of Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Wednesday, July 8th. UBS Group set a $18.00 price target on Compass Pathways in a report on Thursday, May 7th. Raymond James Financial reiterated a “buy” rating on shares of Compass Pathways in a research report on Friday, May 22nd. Stifel Nicolaus boosted their price objective on Compass Pathways from $14.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Compass Pathways in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.36.

Compass Pathways Stock Performance

Shares of Compass Pathways stock opened at $13.23 on Tuesday. Compass Pathways has a 52 week low of $4.55 and a 52 week high of $15.40. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $13.13 and a 200-day moving average price of $10.26. The company has a market cap of $1.83 billion, a PE ratio of -2.86 and a beta of 2.54.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($1.49). Equities analysts anticipate that Compass Pathways will post -1.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

A number of large investors have recently modified their holdings of CMPS. Vivo Capital LLC purchased a new stake in shares of Compass Pathways during the first quarter worth about $1,106,000. Seven Fleet Capital Management LP increased its holdings in Compass Pathways by 295.1% during the 1st quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company’s stock valued at $874,000 after purchasing an additional 118,021 shares during the period. Orbimed Advisors LLC purchased a new position in Compass Pathways during the 1st quarter valued at about $6,363,000. Eversept Partners LP bought a new position in Compass Pathways during the 1st quarter valued at approximately $3,749,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Compass Pathways by 49.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 368,828 shares of the company’s stock valued at $2,040,000 after purchasing an additional 121,491 shares during the last quarter. 46.19% of the stock is owned by hedge funds and other 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.