Compass Pathways (NASDAQ:CMPS) Stock Dropped to Strong Sell by Wall Street Zen

Wall Street Zen downgraded shares of Compass Pathways (NASDAQ:CMPS) from a sell rating to a strong sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Compass Pathways in a research report on Wednesday, September 9th. B. Riley Financial upped their price objective on Compass Pathways from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Compass Point set a $25.00 price objective on Compass Pathways in a research note on Tuesday, July 7th. HC Wainwright decreased their price target on shares of Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Evercore raised shares of Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Wednesday, July 8th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat, Compass Pathways presently has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Compass Pathways Stock Down 5.1%

Shares of NASDAQ:CMPS opened at $11.57 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $1.60 billion, a PE ratio of -2.50 and a beta of 2.55. The firm’s 50-day moving average is $12.91 and its two-hundred day moving average is $10.38. Compass Pathways has a 1 year low of $4.88 and a 1 year high of $15.87.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of ($0.39) by ($1.49). Analysts predict that Compass Pathways will post -1.26 EPS for the current year.

Institutional Trading of Compass Pathways

A number of hedge funds and other institutional investors have recently made changes to their positions in CMPS. Eagle Health Investments LP grew its stake in shares of Compass Pathways by 35.6% in the 1st quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock valued at $11,394,000 after purchasing an additional 541,039 shares during the last quarter. Orbimed Advisors LLC acquired a new position in shares of Compass Pathways in the first quarter valued at approximately $6,363,000. Affinity Asset Advisors LLC increased its holdings in shares of Compass Pathways by 454.2% in the first quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company’s stock valued at $6,130,000 after purchasing an additional 908,483 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Compass Pathways by 23.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 399,506 shares of the company’s stock worth $4,970,000 after purchasing an additional 76,297 shares during the last quarter. Finally, Eversept Partners LP purchased a new stake in shares of Compass Pathways during the first quarter worth approximately $3,749,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

Compass Pathways Company Profile

Compass Pathways plc is a biotechnology company developing novel treatments for mental health conditions. The company’s lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.