Compass Pathways (NASDAQ:CMPS) Trading 9.5% Higher – Here’s Why

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded up 9.5% during mid-day trading on Friday . The company traded as high as $13.09 and last traded at $13.0550. 2,837,289 shares changed hands during trading, a decline of 21% from the average session volume of 3,606,639 shares. The stock had previously closed at $11.92.

Analyst Ratings Changes

A number of brokerages have issued reports on CMPS. UBS Group set a $18.00 price target on Compass Pathways in a research note on Thursday, May 7th. Compass Point set a $15.00 price target on Compass Pathways in a research note on Thursday, February 12th. HC Wainwright reissued a “buy” rating on shares of Compass Pathways in a research note on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a report on Monday, April 20th. Finally, Morgan Stanley lifted their price target on shares of Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.36.

Compass Pathways Stock Up 9.6%

The firm has a 50-day moving average of $8.23 and a 200 day moving average of $7.12. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -4.15 and a beta of 2.39. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.15.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. On average, sell-side analysts anticipate that Compass Pathways PLC Sponsored ADR will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Compass Pathways

A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in shares of Compass Pathways by 152.9% in the 4th quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after purchasing an additional 1,529,013 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Compass Pathways in the 3rd quarter valued at approximately $7,890,000. Nantahala Capital Management LLC raised its position in shares of Compass Pathways by 47.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after purchasing an additional 1,350,698 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Compass Pathways in the 3rd quarter valued at approximately $6,926,000. Finally, Orbimed Advisors LLC acquired a new position in shares of Compass Pathways in the 1st quarter valued at approximately $6,363,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.