Compass Pathways (NASDAQ:CMPS) Stock Price Up 7.3% – Here’s Why

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) rose 7.3% during mid-day trading on Friday . The stock traded as high as $12.10 and last traded at $12.2380. Approximately 637,011 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,641,847 shares. The stock had previously closed at $11.41.

Analyst Upgrades and Downgrades

CMPS has been the topic of several recent research reports. Canaccord Genuity Group cut their price target on Compass Pathways from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. UBS Group set a $18.00 target price on Compass Pathways in a research report on Thursday, May 7th. Wolfe Research began coverage on Compass Pathways in a research report on Friday, May 22nd. They issued an “outperform” rating on the stock. Wall Street Zen upgraded Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, BTIG Research restated a “buy” rating and issued a $14.00 target price on shares of Compass Pathways in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.36.

Compass Pathways Trading Up 5.9%

The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -3.83 and a beta of 2.50. The firm has a 50-day moving average of $9.59 and a 200 day moving average of $7.60.

Compass Pathways (NASDAQ:CMPS) last posted its earnings results on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15. As a group, equities analysts predict that Compass Pathways PLC Sponsored ADR will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

Several hedge funds have recently modified their holdings of CMPS. Royal Bank of Canada increased its position in shares of Compass Pathways by 49.8% during the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock valued at $256,000 after purchasing an additional 29,733 shares during the period. Acadian Asset Management LLC increased its position in shares of Compass Pathways by 42.0% during the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock valued at $686,000 after purchasing an additional 71,112 shares during the period. Nantahala Capital Management LLC increased its position in shares of Compass Pathways by 47.7% during the 2nd 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 during the period. Balyasny Asset Management L.P. increased its position in shares of Compass Pathways by 38.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock valued at $2,394,000 after purchasing an additional 235,345 shares during the period. Finally, Northeast Financial Consultants Inc acquired a new position in shares of Compass Pathways during the 2nd quarter valued at $59,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.