Compass Pathways (NASDAQ:CMPS) Shares Gap Up – What’s Next?

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) gapped up before the market opened on Thursday . The stock had previously closed at $13.31, but opened at $14.50. Compass Pathways shares last traded at $13.08, with a volume of 2,592,055 shares changing hands.

Analyst Upgrades and Downgrades

CMPS has been the topic of several analyst reports. Stifel Nicolaus upped their price target on Compass Pathways from $14.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Evercore raised shares of Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Wednesday, July 8th. Maxim Group increased their target price on shares of Compass Pathways from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Royal Bank Of Canada increased their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Raymond James Financial reissued a “buy” rating on shares of Compass Pathways in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.15.

Compass Pathways Trading Down 0.6%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32. The stock has a market cap of $1.67 billion, a P/E ratio of -3.92 and a beta of 2.47. The stock has a 50-day moving average price of $12.35 and a 200-day moving average price of $8.84.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.15. On average, equities research analysts expect that Compass Pathways PLC Sponsored ADR will post -1.24 EPS for the current year.

Institutional Trading of Compass Pathways

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in 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 purchased a new stake in Compass Pathways during the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in Compass Pathways during the fourth quarter valued at about $47,000. Advisory Services Network LLC bought a new stake in Compass Pathways during the third quarter worth about $41,000. Finally, Parallel Advisors LLC lifted 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 purchasing an additional 7,183 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.