COMPASS Pathways (NASDAQ:CMPS) Stock Price Down 7.6% – Should You Sell?

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded down 7.6% on Monday . The company traded as low as $6.65 and last traded at $6.6250. 400,694 shares traded hands during trading, a decline of 73% from the average session volume of 1,507,353 shares. The stock had previously closed at $7.17.

Wall Street Analysts Forecast Growth

CMPS has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on shares of COMPASS Pathways from $16.00 to $21.00 and gave the company an “outperform” rating in a report on Friday. BTIG Research upped their target price on COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Morgan Stanley lifted their price target on COMPASS Pathways from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of COMPASS Pathways in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

COMPASS Pathways Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market cap of $662.06 million, a PE ratio of -2.53 and a beta of 1.92. The firm has a fifty day moving average price of $6.42 and a 200 day moving average price of $5.61.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.02. Research analysts forecast that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in shares of COMPASS Pathways during the third quarter worth $41,000. BIT Capital GmbH purchased a new position in COMPASS Pathways in the 3rd quarter worth $54,000. Raymond James Financial Inc. lifted its position in COMPASS Pathways by 82.7% during the 3rd quarter. Raymond James Financial Inc. now owns 13,763 shares of the company’s stock worth $79,000 after acquiring an additional 6,228 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in COMPASS Pathways during the 4th quarter worth about $104,000. Finally, CWM LLC grew its stake in COMPASS Pathways by 19.2% during the 3rd quarter. CWM LLC now owns 15,650 shares of the company’s stock valued at $90,000 after purchasing an additional 2,525 shares during the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.