Compass Pathways (NASDAQ:CMPS) Trading Up 7.3% – Here’s Why

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price rose 7.3% on Friday . The stock traded as high as $12.10 and last traded at $12.2380. Approximately 637,011 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,641,847 shares. The stock had previously closed at $11.41.

Analysts Set New Price Targets

CMPS has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Compass Pathways in a report on Friday, May 22nd. They issued an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Compass Pathways in a report on Friday, May 22nd. B. Riley Financial assumed coverage on shares of Compass Pathways in a report on Friday, April 24th. They issued a “buy” rating and a $17.00 target price on the stock. TD Cowen reissued a “buy” rating on shares of Compass Pathways in a report on Monday, June 1st. Finally, Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.36.

Compass Pathways Stock Up 6.7%

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 firm’s 50-day moving average is $9.46 and its 200 day moving average is $7.57. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -3.89 and a beta of 2.50.

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

Hedge Funds Weigh In On Compass Pathways

Several institutional investors and hedge funds have recently bought and sold shares of CMPS. Seven Fleet Capital Management LP grew its stake in Compass Pathways by 295.1% during the first quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company’s stock worth $874,000 after buying an additional 118,021 shares during the period. Parallel Advisors LLC grew its stake in Compass Pathways by 8,450.6% during the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock worth $40,000 after buying an additional 7,183 shares during the period. Vivo Capital LLC purchased a new stake in Compass Pathways during the first quarter worth approximately $1,106,000. Bank of America Corp DE grew its stake in Compass Pathways by 43.8% during the first quarter. Bank of America Corp DE now owns 32,332 shares of the company’s stock worth $179,000 after buying an additional 9,853 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Compass Pathways by 67.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after buying an additional 1,920 shares during the period. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.