Compass Pathways (NASDAQ:CMPS) Shares Gap Up – Here’s What Happened

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.37, but opened at $11.64. Compass Pathways shares last traded at $10.8880, with a volume of 1,815,394 shares.

Wall Street Analysts Forecast Growth

CMPS has been the topic of several recent research reports. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Compass Pathways in a research note on Tuesday, April 28th. Royal Bank Of Canada upped their price objective on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday. Wall Street Zen raised shares of Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday. Finally, BTIG Research reissued a “buy” rating and issued a $14.00 price objective on shares of Compass Pathways in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.58.

Compass Pathways Price Performance

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 business’s 50 day simple moving average is $7.23 and its 200-day simple moving average is $6.74. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.42 and a beta of 2.39.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Large investors have recently made changes to their positions in the company. Eagle Health Investments LP increased its stake in Compass Pathways by 35.6% in the 1st quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock valued at $11,394,000 after buying an additional 541,039 shares during the period. Eversept Partners LP acquired a new position in Compass Pathways in the 1st quarter valued at $3,749,000. Polar Asset Management Partners Inc. acquired a new position in Compass Pathways in the 1st quarter valued at $415,000. Orbimed Advisors LLC acquired a new position in Compass Pathways in the 1st quarter valued at $6,363,000. Finally, Affinity Asset Advisors LLC grew its stake in Compass Pathways by 454.2% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company’s stock valued at $6,130,000 after buying an additional 908,483 shares during the last quarter. 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.