COMPASS Pathways (NASDAQ:CMPS) Trading Down 5.5% – Here’s What Happened

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares traded down 5.5% during trading on Friday . The company traded as low as $7.25 and last traded at $7.20. 1,077,276 shares were traded during mid-day trading, a decline of 41% from the average session volume of 1,811,288 shares. The stock had previously closed at $7.62.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CMPS shares. Morgan Stanley increased their price target on COMPASS Pathways from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday, October 8th. Finally, BTIG Research lifted their price target on shares of COMPASS Pathways from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.88.

COMPASS Pathways Stock Performance

The stock has a fifty day moving average of $6.10 and a 200-day moving average of $5.30. The firm has a market capitalization of $693.26 million, a P/E ratio of -2.65 and a beta of 1.92. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. On average, research analysts anticipate that COMPASS Pathways PLC Sponsored ADR will post -2.33 EPS for the current year.

Institutional Investors Weigh In On COMPASS Pathways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMPS. Advisory Services Network LLC acquired a new position in shares of COMPASS Pathways during the 3rd quarter worth about $41,000. China Universal Asset Management Co. Ltd. boosted its position in COMPASS Pathways by 46.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after purchasing an additional 5,817 shares during the last quarter. BIT Capital GmbH bought a new position in COMPASS Pathways in the third quarter valued at approximately $54,000. Conservest Capital Advisors Inc. increased its position in shares of COMPASS Pathways by 32.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company’s stock worth $57,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new stake in shares of COMPASS Pathways during the 2nd quarter worth approximately $59,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.