Compass Pathways (NASDAQ:CMPS) Sees Large Volume Increase – Here’s Why

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) saw unusually-high trading volume on Friday . Approximately 3,335,025 shares traded hands during trading, a decline of 3% from the previous session’s volume of 3,423,156 shares.The stock last traded at $9.1170 and had previously closed at $9.15.

Wall Street Analysts Forecast Growth

CMPS has been the topic of several research reports. B. Riley Financial began coverage on shares of Compass Pathways in a report on Friday. They set a “buy” rating and a $17.00 price objective on the stock. Morgan Stanley cut their price target on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. HC Wainwright lifted their price target on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Canaccord Genuity Group cut their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Compass Pathways currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.

Compass Pathways Stock Up 4.7%

The company’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $6.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $1.24 billion, a PE ratio of -3.10 and a beta of 2.01.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.59). On average, analysts forecast that Compass Pathways PLC Sponsored ADR will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Compass Pathways

A number of large investors have recently made changes to their positions in CMPS. Royal Bank of Canada grew its holdings in shares of Compass Pathways by 49.8% during the first quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock valued at $256,000 after buying an additional 29,733 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Compass Pathways by 42.0% during the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock valued at $686,000 after buying an additional 71,112 shares during the last quarter. Nantahala Capital Management LLC grew 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 buying an additional 1,350,698 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Compass Pathways by 38.0% during the second quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock valued at $2,394,000 after buying an additional 235,345 shares during the last quarter. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of Compass Pathways during the second quarter valued at $59,000. 46.19% of the stock is owned by hedge funds and other 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.