Compass Pathways (NASDAQ:CMPS) Stock Price Up 8% Following Analyst Upgrade

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded up 8% on Friday after Canaccord Genuity Group raised their price target on the stock from $18.00 to $20.00. Canaccord Genuity Group currently has a buy rating on the stock. Compass Pathways traded as high as $14.48 and last traded at $14.6640. 1,449,858 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 3,588,450 shares. The stock had previously closed at $13.58.

A number of other research analysts have also recently issued reports on CMPS. HC Wainwright restated a “buy” rating on shares of Compass Pathways in a report on Friday, May 22nd. BTIG Research reissued a “buy” rating and set a $14.00 price target on shares of Compass Pathways in a research report on Wednesday, May 13th. TD Cowen restated a “buy” rating on shares of Compass Pathways in a research report on Monday, June 1st. Morgan Stanley lifted their price target on shares of Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen raised Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Compass Pathways currently has an average rating of “Buy” and an average price target of $23.10.

Institutional Trading of Compass Pathways

A number of institutional investors and hedge funds have recently made changes to their positions in CMPS. RTW Investments LP boosted its holdings in shares of Compass Pathways by 0.6% in the 4th quarter. RTW Investments LP now owns 8,757,390 shares of the company’s stock valued at $60,426,000 after purchasing an additional 50,000 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in Compass Pathways by 47.7% in the 2nd 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. Millennium Management LLC lifted its holdings in Compass Pathways by 39.9% during the 3rd quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock worth $15,562,000 after buying an additional 774,090 shares during the period. Toronto Dominion Bank lifted its position 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 during the period. Finally, ARK Investment Management LLC raised its position in shares of Compass Pathways by 1.6% in the 4th quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock worth $14,876,000 after acquiring an additional 34,894 shares in the last quarter. Institutional investors own 46.19% of the company’s stock.

Compass Pathways Stock Performance

The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $10.80 and a 200-day simple moving average of $8.07. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -4.65 and a beta of 2.50.

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