COMPASS Pathways (NASDAQ:CMPS) Trading Up 4.5% – What’s Next?

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price traded up 4.5% during mid-day trading on Tuesday . The stock traded as high as $6.63 and last traded at $6.8230. 16,481 shares changed hands during trading, a decline of 99% from the average session volume of 1,776,211 shares. The stock had previously closed at $6.53.

Analyst Ratings Changes

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

COMPASS Pathways Price Performance

The stock has a market cap of $666.38 million, a PE ratio of -2.56 and a beta of 1.93. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $5.97 and its 200-day moving average is $5.05.

COMPASS Pathways (NASDAQ:CMPS) last issued its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. As a group, sell-side analysts predict that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current year.

Institutional Investors Weigh In On COMPASS Pathways

A number of institutional investors and hedge funds have recently modified their holdings of CMPS. Advisory Services Network LLC purchased a new stake in COMPASS Pathways in the 3rd quarter worth about $41,000. Parkman Healthcare Partners LLC acquired a new stake in COMPASS Pathways in the 3rd quarter worth approximately $573,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of COMPASS Pathways in the third quarter valued at about $118,000. Millennium Management LLC increased its position in COMPASS Pathways by 39.9% in the 3rd quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock worth $15,562,000 after buying an additional 774,090 shares during the period. Finally, Jain Global LLC acquired a new position in COMPASS Pathways during the 3rd quarter valued at $1,010,000. 46.19% of the stock is owned by institutional investors and hedge funds.

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.