Compass Pathways (NASDAQ:CMPS) Shares Up 8.8% – Should You Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) traded up 8.8% during trading on Tuesday . The stock traded as high as $7.45 and last traded at $7.4610. 1,912,238 shares were traded during mid-day trading, a decline of 38% from the average session volume of 3,097,420 shares. The stock had previously closed at $6.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research note on Wednesday, January 21st. Royal Bank Of Canada lifted their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. HC Wainwright upped their price target on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Morgan Stanley increased their price target on Compass Pathways from $11.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, Canaccord Genuity Group boosted their price objective on Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.13.

Compass Pathways Price Performance

The business’s 50 day moving average price is $6.98 and its 200-day moving average price is $6.19. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55. The company has a market cap of $712.95 million, a PE ratio of -2.73 and a beta of 1.90.

Institutional Inflows and Outflows

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

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.