Compass Pathways Target of Unusually Large Options Trading (NASDAQ:CMPS)

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 10,217 put options on the company. This is an increase of 70% compared to the average daily volume of 6,015 put options.

Institutional Investors Weigh In On Compass Pathways

Several hedge funds and other institutional investors have recently made changes to their positions in CMPS. Vivo Capital LLC bought a new position in Compass Pathways during the 1st quarter valued at about $1,106,000. Seven Fleet Capital Management LP lifted its stake in Compass Pathways by 295.1% in the first quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company’s stock worth $874,000 after purchasing an additional 118,021 shares during the last quarter. Orbimed Advisors LLC bought a new stake in Compass Pathways in the first quarter worth about $6,363,000. BIT Capital GmbH boosted its position in shares of Compass Pathways by 2,963.4% during the fourth quarter. BIT Capital GmbH now owns 288,814 shares of the company’s stock valued at $1,993,000 after buying an additional 279,386 shares during the period. Finally, Eversept Partners LP purchased a new position in shares of Compass Pathways during the first quarter valued at approximately $3,749,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Evercore raised shares of Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Wednesday, July 8th. Oppenheimer restated an “outperform” rating on shares of Compass Pathways in a report on Wednesday, August 5th. Wall Street Zen cut shares of Compass Pathways from a “sell” rating to a “strong sell” rating in a research report on Monday. Finally, HC Wainwright lowered their price target on shares of Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.36.

Compass Pathways Stock Performance

NASDAQ CMPS opened at $14.64 on Friday. The company has a market cap of $2.03 billion, a P/E ratio of -3.17 and a beta of 2.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. The business’s 50 day moving average price is $13.07 and its 200-day moving average price is $10.06. Compass Pathways has a fifty-two week low of $4.40 and a fifty-two week high of $15.40.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($1.49). Sell-side analysts predict that Compass Pathways will post -1.26 earnings per share for the current year.

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.