Compass Pathways (NASDAQ:CMPS) Shares Gap Up – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.37, but opened at $11.64. Compass Pathways shares last traded at $10.8880, with a volume of 1,815,394 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen upgraded Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada boosted 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 Thursday. Canaccord Genuity Group reduced their target price on shares of Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, UBS Group set a $18.00 price target on Compass Pathways in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Compass Pathways presently has an average rating of “Moderate Buy” and a consensus target price of $20.58.

Compass Pathways Trading Up 4.2%

The stock’s fifty day simple moving average is $7.23 and its 200-day simple moving average is $6.74. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 3.32. The firm has a market cap of $1.46 billion, a PE ratio of -3.42 and a beta of 2.39.

Compass Pathways (NASDAQ:CMPS) last issued its earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.15. On average, sell-side analysts forecast that Compass Pathways PLC Sponsored ADR will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

A number of large investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd purchased a new stake in shares of Compass Pathways in the 4th quarter valued at approximately $38,000. Parallel Advisors LLC lifted its holdings in Compass Pathways by 8,450.6% during the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock worth $40,000 after buying an additional 7,183 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Compass Pathways during the 3rd quarter worth approximately $41,000. North Star Investment Management Corp. raised its stake in Compass Pathways by 1,354.0% in the first quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock valued at $42,000 after buying an additional 7,000 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Compass Pathways in the fourth quarter valued at $47,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

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.