Compass Pathways (NASDAQ:CMPS) Trading Down 6.3% – Here’s Why

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) fell 6.3% during trading on Wednesday . The company traded as low as $6.92 and last traded at $6.9740. 1,213,337 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 3,103,750 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. HC Wainwright raised their price target on Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Compass Point set a $15.00 price objective on Compass Pathways in a report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Finally, Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.13.

Compass Pathways Trading Down 3.6%

The company has a market capitalization of $613.57 million, a P/E ratio of -2.35 and a beta of 1.90. 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 fifty day moving average of $6.99 and a 200 day moving average of $6.22.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMPS. Flax Pond Capital LLC purchased a new position in Compass Pathways during the fourth quarter valued at approximately $364,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Compass Pathways during the 4th quarter valued at $47,000. Seven Fleet Capital Management LP purchased a new position in shares of Compass Pathways during the 4th quarter valued at $276,000. Corient Private Wealth LLC boosted its holdings in Compass Pathways by 3.2% in the 4th quarter. Corient Private Wealth LLC now owns 38,438 shares of the company’s stock worth $265,000 after buying an additional 1,200 shares during the period. Finally, XTX Topco Ltd increased its stake in Compass Pathways by 457.5% in the 4th quarter. XTX Topco Ltd now owns 56,786 shares of the company’s stock worth $392,000 after buying an additional 46,600 shares in the last quarter. 46.19% of the stock is currently owned by institutional investors.

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.