Morgan Stanley Has Lowered Expectations for Compass Pathways (NASDAQ:CMPS) Stock Price

Compass Pathways (NASDAQ:CMPS) had its price target lowered by investment analysts at Morgan Stanley from $18.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 181.20% from the company’s current price.

A number of other equities analysts have also weighed in on CMPS. HC Wainwright upped their price objective on Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Canaccord Genuity Group upped their price target on Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Compass Point set a $15.00 price objective on shares of Compass Pathways in a research report on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Finally, Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.88.

Compass Pathways Price Performance

NASDAQ:CMPS traded up $0.47 during trading hours on Wednesday, hitting $5.69. 1,318,348 shares of the stock traded hands, compared to its average volume of 2,998,798. The company has a market cap of $546.35 million, a price-to-earnings ratio of -2.09 and a beta of 1.90. Compass Pathways has a 1 year low of $2.25 and a 1 year high of $8.90. The stock has a 50 day moving average price of $6.78 and a 200 day moving average price of $6.30. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55.

Compass Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Tuesday, March 24th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.20). Sell-side analysts forecast that Compass Pathways will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Persistent Asset Partners Ltd bought a new stake in Compass Pathways in the fourth quarter worth $38,000. Advisory Services Network LLC bought a new stake in shares of Compass Pathways in the 3rd quarter worth about $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Compass Pathways during the 4th quarter valued at about $47,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Compass Pathways by 46.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after acquiring an additional 5,817 shares during the last quarter. Finally, BIT Capital GmbH purchased a new position in Compass Pathways in the third quarter worth about $54,000. 46.19% of the stock is currently owned by institutional investors.

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.