Compass Pathways (NASDAQ:CMPS) Trading 9.5% Higher – Here’s Why

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) were up 9.5% during mid-day trading on Friday . The company traded as high as $13.09 and last traded at $13.0550. Approximately 2,837,289 shares were traded during trading, a decline of 21% from the average daily volume of 3,606,639 shares. The stock had previously closed at $11.92.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CMPS shares. Morgan Stanley boosted their price target on Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Raymond James Financial reaffirmed a “buy” rating on shares of Compass Pathways in a research report on Friday, May 22nd. Jefferies Financial Group raised Compass Pathways to a “strong-buy” rating in a research report on Tuesday, May 5th. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada upped their target price on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Compass Pathways presently has an average rating of “Moderate Buy” and a consensus target price of $21.36.

Compass Pathways Price Performance

The company has a 50-day moving average price of $8.08 and a two-hundred day moving average price of $7.08. 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 company has a market cap of $1.75 billion, a PE ratio of -4.13 and a beta of 2.39.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Sell-side analysts expect that Compass Pathways PLC Sponsored ADR will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in Compass Pathways by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock valued at $26,000 after purchasing an additional 1,920 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Compass Pathways in the fourth quarter valued at about $38,000. Parallel Advisors LLC boosted its holdings in Compass Pathways by 8,450.6% in the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock valued at $40,000 after purchasing an additional 7,183 shares during the last quarter. Advisory Services Network LLC purchased a new position in Compass Pathways in the third quarter valued at about $41,000. Finally, North Star Investment Management Corp. boosted its holdings in Compass Pathways by 1,354.0% in the first quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock valued at $42,000 after purchasing an additional 7,000 shares during the last quarter. Hedge funds and other 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.