Compass Pathways (NASDAQ:CMPS) Trading 9.7% Higher – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price traded up 9.7% on Wednesday . The stock traded as high as $5.78 and last traded at $5.7250. 1,165,389 shares were traded during mid-day trading, a decline of 61% from the average session volume of 2,995,550 shares. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CMPS shares. Compass Point set a $15.00 price target on Compass Pathways in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research note on Wednesday, January 21st. HC Wainwright increased their price objective on Compass Pathways from $40.00 to $70.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Canaccord Genuity Group raised their target price on shares of Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Morgan Stanley cut their target price on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Compass Pathways currently has an average rating of “Moderate Buy” and an average target price of $21.88.

Compass Pathways Stock Performance

The stock has a market cap of $539.63 million, a PE ratio of -2.07 and a beta of 1.90. The stock has a fifty day moving average of $6.78 and a 200-day moving average of $6.30. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Tuesday, March 24th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.20). On average, equities analysts forecast that Compass Pathways PLC Sponsored ADR will post -2.33 EPS for the current year.

Institutional Investors Weigh In On Compass Pathways

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

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.