Compass Pathways (NASDAQ:CMPS) Trading 9.8% Higher – Still a Buy?

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) shot up 9.8% during mid-day trading on Wednesday . The company traded as high as $13.20 and last traded at $12.96. 3,254,767 shares were traded during trading, a decline of 13% from the average daily volume of 3,720,214 shares. The stock had previously closed at $11.80.

Analyst Ratings Changes

CMPS has been the subject of several research analyst reports. HC Wainwright dropped their price target on Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company initiated coverage on Compass Pathways in a research note on Monday, July 27th. They issued an “equal weight” rating and a $13.00 price objective on the stock. Compass Point set a $25.00 target price on Compass Pathways in a report on Tuesday, July 7th. TD Cowen reissued a “buy” rating on shares of Compass Pathways in a research report on Monday, June 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Compass Pathways in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Compass Pathways presently has an average rating of “Moderate Buy” and a consensus target price of $23.36.

Compass Pathways Stock Performance

The stock has a 50 day simple moving average of $12.58 and a 200 day simple moving average of $9.31. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -2.92 and a beta of 2.50.

Compass Pathways (NASDAQ:CMPS) last posted its earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($1.49). As a group, analysts predict that Compass Pathways PLC Sponsored ADR will post -1.24 EPS for the current year.

Institutional Trading of Compass Pathways

Several large investors have recently bought and sold shares of the company. RTW Investments LP lifted its position in shares of Compass Pathways by 0.6% during the fourth quarter. RTW Investments LP now owns 8,757,390 shares of the company’s stock worth $60,426,000 after purchasing an additional 50,000 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after purchasing an additional 1,350,698 shares during the period. Millennium Management LLC grew 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 valued at $15,562,000 after purchasing an additional 774,090 shares in the last quarter. Toronto Dominion Bank grew its holdings in Compass Pathways by 152.9% during the 4th quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after purchasing an additional 1,529,013 shares in the last quarter. Finally, ARK Investment Management LLC increased its stake in Compass Pathways by 1.6% during the 4th quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock worth $14,876,000 after buying an additional 34,894 shares during the period. Institutional investors and hedge funds 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.