Compass Pathways (NASDAQ:CMPS) Reaches New 12-Month High – Should You Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares reached a new 52-week high on Friday . The stock traded as high as $12.03 and last traded at $11.59, with a volume of 6198094 shares traded. The stock had previously closed at $10.87.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Jefferies Financial Group raised shares of Compass Pathways to a “strong-buy” rating in a research note on Tuesday, May 5th. Maxim Group boosted their target price on Compass Pathways from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Compass Pathways in a research report on Tuesday, April 28th. BTIG Research reaffirmed a “buy” rating and set a $14.00 price target on shares of Compass Pathways in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.58.

Compass Pathways Stock Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -3.68 and a beta of 2.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a 50-day moving average of $7.54 and a 200 day moving average of $6.87.

Compass Pathways (NASDAQ:CMPS) last issued 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. On average, analysts expect that Compass Pathways PLC Sponsored ADR will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Compass Pathways

Several institutional investors have recently modified their holdings of the business. RTW Investments LP lifted its holdings in shares of Compass Pathways by 0.6% during 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 increased its stake 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 purchasing an additional 1,350,698 shares in the last quarter. Millennium Management LLC raised 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 stake in Compass Pathways by 152.9% in the fourth 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 in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Compass Pathways by 1.6% in the fourth quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock valued at $14,876,000 after buying an additional 34,894 shares in the last quarter. Institutional investors own 46.19% of the company’s stock.

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.