Propel Bio Management LLC Takes $2.92 Million Position in Compass Pathways PLC Sponsored ADR $CMPS

Propel Bio Management LLC acquired a new stake in shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 510,000 shares of the company’s stock, valued at approximately $2,922,000. Compass Pathways comprises approximately 2.9% of Propel Bio Management LLC’s investment portfolio, making the stock its 11th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. ARK Investment Management LLC boosted its holdings in Compass Pathways by 28.6% in the 3rd quarter. ARK Investment Management LLC now owns 2,121,118 shares of the company’s stock valued at $12,154,000 after purchasing an additional 471,897 shares during the period. Zhang Financial LLC purchased a new stake in shares of Compass Pathways in the third quarter worth $109,000. BIT Capital GmbH bought a new stake in Compass Pathways during the third quarter valued at $54,000. CenterBook Partners LP bought a new stake in Compass Pathways during the third quarter valued at $3,645,000. Finally, Eagle Health Investments LP purchased a new position in Compass Pathways during the third quarter worth about $5,360,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

Compass Pathways Stock Performance

NASDAQ:CMPS opened at $7.05 on Thursday. The company has a market capitalization of $676.94 million, a price-to-earnings ratio of -2.59 and a beta of 1.90. The business has a 50 day moving average of $6.99 and a 200 day moving average of $6.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. Compass Pathways PLC Sponsored ADR has a 1-year low of $2.25 and a 1-year high of $8.90.

Analyst Upgrades and Downgrades

CMPS has been the topic of several recent analyst reports. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Royal Bank Of Canada raised their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Canaccord Genuity Group lifted their target price on shares of Compass Pathways from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. Finally, Morgan Stanley raised their price objective on shares of Compass Pathways from $11.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.13.

Compass Pathways 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.