Compass Pathways (NASDAQ:CMPS) Trading 6.5% Higher – Here’s Why

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price shot up 6.5% during trading on Wednesday . The company traded as high as $14.60 and last traded at $14.9580. 556,640 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,543,970 shares. The stock had previously closed at $14.04.

Analyst Ratings Changes

A number of research firms recently commented on CMPS. Jefferies Financial Group reissued a “buy” rating on shares of Compass Pathways in a report on Tuesday, July 7th. Raymond James Financial reaffirmed a “buy” rating on shares of Compass Pathways in a report on Friday, May 22nd. Wolfe Research reiterated an “outperform” rating on shares of Compass Pathways in a research report on Tuesday, July 7th. BTIG Research upped their price target on Compass Pathways from $14.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Morgan Stanley upped their price target on Compass Pathways from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given 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 an average rating of “Moderate Buy” and an average price target of $23.36.

Compass Pathways Stock Performance

The company has a market capitalization of $2.05 billion, a PE ratio of -3.19 and a beta of 2.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s fifty day simple moving average is $13.06 and its 200-day simple moving average is $10.45.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($1.49). As a group, equities analysts predict that Compass Pathways PLC Sponsored ADR will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMPS. EverSource Wealth Advisors LLC increased its position in shares of Compass Pathways by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after acquiring an additional 1,920 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Compass Pathways during the 4th quarter valued at $38,000. Parallel Advisors LLC lifted its holdings in shares of Compass Pathways by 8,450.6% during the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock valued at $40,000 after acquiring an additional 7,183 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Compass Pathways during the 3rd quarter worth $41,000. Finally, North Star Investment Management Corp. boosted its position in Compass Pathways by 1,354.0% during the 1st quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock worth $42,000 after purchasing an additional 7,000 shares during the period. 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.