COMPASS Pathways (NASDAQ:CMPS) Shares Gap Up – Time to Buy?

Shares of COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) gapped up before the market opened on Tuesday . The stock had previously closed at $5.95, but opened at $6.52. COMPASS Pathways shares last traded at $6.3180, with a volume of 7,818,954 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 target price on shares of COMPASS Pathways in a research note on Friday, August 1st. BTIG Research increased their target price on COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. HC Wainwright cut their target price on COMPASS Pathways from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.57.

COMPASS Pathways Stock Up 14.1%

The company has a debt-to-equity ratio of 0.16, a current ratio of 8.82 and a quick ratio of 8.82. The firm has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $4.62. The company has a market cap of $651.34 million, a PE ratio of -3.66 and a beta of 2.22.

Institutional Investors Weigh In On COMPASS Pathways

Several hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of COMPASS Pathways by 26.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 276,991 shares of the company’s stock worth $1,587,000 after purchasing an additional 57,340 shares during the last quarter. Simplify Asset Management Inc. acquired a new stake in shares of COMPASS Pathways during the third quarter worth $1,662,000. CWM LLC boosted its holdings in shares of COMPASS Pathways by 19.2% during the third quarter. CWM LLC now owns 15,650 shares of the company’s stock worth $90,000 after purchasing an additional 2,525 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of 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 worth $51,000 after purchasing an additional 5,817 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new stake in shares of COMPASS Pathways during the second quarter worth $598,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

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 therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.