COMPASS Pathways (NASDAQ:CMPS) Trading 4.6% Higher

COMPASS Pathways plc (NASDAQ:CMPS) shares rose 4.6% during trading on Tuesday . The stock traded as high as $8.73 and last traded at $8.70. Approximately 317,074 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 701,797 shares. The stock had previously closed at $8.32.

Analyst Upgrades and Downgrades

CMPS has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of COMPASS Pathways in a report on Friday, March 1st. Morgan Stanley initiated coverage on COMPASS Pathways in a report on Monday, April 1st. They set an “overweight” rating and a $30.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, COMPASS Pathways presently has an average rating of “Buy” and an average target price of $47.40.

COMPASS Pathways Stock Up 2.0 %

The company has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $8.34. The company has a quick ratio of 13.33, a current ratio of 13.33 and a debt-to-equity ratio of 0.14. The firm has a market cap of $538.88 million, a P/E ratio of -3.57 and a beta of 2.48.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.16). On average, equities analysts anticipate that COMPASS Pathways plc will post -2.4 earnings per share for the current year.

Insider Activity

In related news, Director George Jay Goldsmith sold 25,750 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $8.35, for a total value of $215,012.50. Following the sale, the director now directly owns 4,172,404 shares in the company, valued at $34,839,573.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ekaterina Malievskaia sold 19,853 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $10.59, for a total value of $210,243.27. Following the sale, the director now directly owns 4,144,994 shares in the company, valued at $43,895,486.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George Jay Goldsmith sold 25,750 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $8.35, for a total value of $215,012.50. Following the completion of the sale, the director now owns 4,172,404 shares in the company, valued at $34,839,573.40. The disclosure for this sale can be found here. Insiders have sold 162,675 shares of company stock worth $1,511,656 over the last ninety days. Corporate insiders own 23.99% of the company’s stock.

Institutional Investors Weigh In On COMPASS Pathways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC raised its position in COMPASS Pathways by 7.6% during the fourth quarter. ARK Investment Management LLC now owns 2,618,871 shares of the company’s stock valued at $22,915,000 after purchasing an additional 186,040 shares during the period. Bank of New York Mellon Corp purchased a new stake in COMPASS Pathways during the third quarter valued at approximately $597,000. Armistice Capital LLC purchased a new stake in COMPASS Pathways during the third quarter valued at approximately $2,960,000. Vivo Capital LLC purchased a new stake in COMPASS Pathways during the third quarter valued at approximately $11,899,000. Finally, AE Wealth Management LLC purchased a new stake in COMPASS Pathways during the third quarter valued at approximately $106,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

COMPASS Pathways Company Profile

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.