Short Interest in Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) Increases By 15.1%

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 6,287,676 shares, a growth of 15.1% from the February 12th total of 5,464,532 shares. Based on an average daily volume of 8,304,137 shares, the days-to-cover ratio is currently 0.8 days. Currently, 6.8% of the company’s stock are sold short. Currently, 6.8% of the company’s stock are sold short. Based on an average daily volume of 8,304,137 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

CMPS has been the subject of a number of research reports. Royal Bank Of Canada increased their price objective on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. HC Wainwright upped their target price on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Compass Point set a $15.00 price target on shares of Compass Pathways in a research note on Thursday, February 12th. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research note 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.13.

Hedge Funds Weigh In On Compass Pathways

Several large investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its holdings in shares of Compass Pathways by 152.9% in the 4th quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock worth $17,447,000 after purchasing an additional 1,529,013 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Compass Pathways in the third quarter worth $7,890,000. Nantahala Capital Management LLC lifted its holdings in shares of Compass Pathways by 47.7% during the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after purchasing an additional 1,350,698 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Compass Pathways during the third quarter valued at $6,926,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Compass Pathways during the second quarter valued at $3,011,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

Compass Pathways Stock Down 3.0%

Shares of NASDAQ:CMPS opened at $5.88 on Thursday. The stock has a fifty day simple moving average of $6.93 and a two-hundred day simple moving average of $6.27. The stock has a market capitalization of $564.60 million, a price-to-earnings ratio of -2.16 and a beta of 1.90. Compass Pathways has a 12-month low of $2.25 and a 12-month high of $8.90. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55.

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.