COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Update

COMPASS Pathways plc (NASDAQ:CMPS) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 406,900 shares, a decline of 35.3% from the August 15th total of 629,200 shares. Based on an average daily volume of 386,400 shares, the short-interest ratio is presently 1.1 days.

Shares of CMPS traded down $1.77 during mid-day trading on Monday, hitting $31.37. The company had a trading volume of 382,089 shares, compared to its average volume of 409,798. COMPASS Pathways has a 1-year low of $25.66 and a 1-year high of $61.69. The business’s 50-day simple moving average is $33.52 and its 200-day simple moving average is $35.43. The stock has a market cap of $1.31 billion and a PE ratio of -12.02.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Tuesday, August 10th. The company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.11). Research analysts forecast that COMPASS Pathways will post -1.87 earnings per share for the current year.

CMPS has been the subject of a number of analyst reports. Citigroup assumed coverage on COMPASS Pathways in a report on Tuesday, July 13th. They issued a “buy” rating and a $67.00 price target for the company. Maxim Group started coverage on shares of COMPASS Pathways in a report on Monday, June 28th. They issued a “buy” rating and a $70.00 target price on the stock. HC Wainwright raised their price target on shares of COMPASS Pathways from $65.00 to $100.00 and gave the stock a “positive” rating in a research note on Thursday, July 1st. Zacks Investment Research lowered shares of COMPASS Pathways from a “hold” rating to a “sell” rating in a research report on Wednesday, August 18th. Finally, Berenberg Bank restated a “buy” rating and set a $50.00 target price on shares of COMPASS Pathways in a research report on Monday, June 28th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $70.38.

Several hedge funds and other institutional investors have recently modified their holdings of CMPS. BDO Wealth Advisors LLC raised its position in shares of COMPASS Pathways by 270.0% in the 2nd quarter. BDO Wealth Advisors LLC now owns 2,035 shares of the company’s stock valued at $78,000 after purchasing an additional 1,485 shares in the last quarter. Marshall Wace LLP bought a new position in COMPASS Pathways during the 2nd quarter valued at $942,000. Morgan Stanley boosted its stake in COMPASS Pathways by 99.9% during the 2nd quarter. Morgan Stanley now owns 96,730 shares of the company’s stock valued at $3,690,000 after acquiring an additional 48,343 shares during the last quarter. Wells Fargo & Company MN grew its holdings in COMPASS Pathways by 504.8% during the 2nd quarter. Wells Fargo & Company MN now owns 203,586 shares of the company’s stock worth $7,766,000 after acquiring an additional 169,925 shares in the last quarter. Finally, Woodline Partners LP increased its position in shares of COMPASS Pathways by 15.7% in the 2nd quarter. Woodline Partners LP now owns 220,359 shares of the company’s stock worth $8,407,000 after purchasing an additional 29,922 shares during the last quarter. 18.73% of the stock is owned by institutional investors.

About COMPASS Pathways

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin formulation that is in Phase IIb clinical trial to treat patients with treatment-resistant depression. The company was formerly known as COMPASS Rx Limited and changed its name to COMPASS Pathways plc in August 2020.

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