Compass Pathways (NASDAQ:CMPS) Stock Price Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.39 and traded as low as $7.54. Compass Pathways shares last traded at $8.41, with a volume of 16,823,684 shares.

Trending Headlines about Compass Pathways

Here are the key news stories impacting Compass Pathways this week:

• Positive Sentiment: Compass reported a third-quarter loss of $0.31 per share, narrower than the $0.39 loss analysts expected. The company said it expects to complete its COMP360 New Drug Application within two weeks and outlined a potential 30- to 60-day FDA review timeline. RBC said the company remains on track for a launch. Compass Pathways Remains on Track for COMP360 Launch Following Q3 Results, RBC Says
• Positive Sentiment: Commercial prospects received a boost from a survey indicating that 90% of interventional psychiatrists surveyed would be willing to prescribe COMP360. BTIG also reaffirmed its Buy rating and $25 target, while Oppenheimer reiterated Outperform. Compass Pathways: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Stifel characterized the Usona situation as “extremely atypical,” suggesting that the competitive implications may not be straightforward. Stifel on Compass Pathways
• Negative Sentiment: Wells Fargo cut its price target to $10 from $13 and maintained an Equal Weight rating. Recent competitive concerns, including a rival’s NDA submission, had also pressured sentiment around the psychedelic-drug approval race. Wells Fargo analyst recommendations COMPASS Pathways rebounds on earnings after selloff driven by rival’s NDA submission

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Compass Pathways from $14.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley increased their price target on shares of Compass Pathways from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. B. Riley Financial raised their price target on shares of Compass Pathways from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Oppenheimer restated an “outperform” rating and set a $20.00 price target on shares of Compass Pathways in a report on Tuesday. Finally, Evercore raised Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.14.

Compass Pathways Trading Up 0.1%

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -2.46 and a beta of 2.43. The company’s 50 day moving average price is $12.57 and its 200 day moving average price is $10.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.08. Research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -1.26 EPS for the current year.

Institutional Trading of Compass Pathways

Several large investors have recently made changes to their positions in the stock. Candriam S.C.A. raised its position in shares of Compass Pathways by 18.6% in the third quarter. Candriam S.C.A. now owns 1,510,695 shares of the company’s stock valued at $18,862,000 after purchasing an additional 236,417 shares during the period. Alps Advisors Inc. lifted its stake in shares of Compass Pathways by 34.4% in the third quarter. Alps Advisors Inc. now owns 183,458 shares of the company’s stock worth $2,282,000 after buying an additional 46,996 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Compass Pathways by 454.1% during the 3rd quarter. CenterBook Partners LP now owns 695,943 shares of the company’s stock worth $8,658,000 after buying an additional 570,349 shares during the period. Pekin Hardy Strauss Inc. bought a new stake in shares of Compass Pathways during the 3rd quarter worth $792,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Compass Pathways by 81.0% in the third quarter. Commonwealth Equity Services LLC now owns 23,482 shares of the company’s stock valued at $292,000 after purchasing an additional 10,510 shares during the last quarter. Institutional investors own 46.19% of the company’s stock.

Compass Pathways Company Profile

Compass Pathways plc is a biotechnology company developing novel treatments for mental health conditions. The company’s lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.