Compass Pathways (NASDAQ:CMPS) Upgraded by Wells Fargo & Company to Hold Rating

Wells Fargo & Company upgraded shares of Compass Pathways (NASDAQ:CMPS) to a hold rating in a report published on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on CMPS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research note on Friday, July 17th. Raymond James Financial reissued a “buy” rating on shares of Compass Pathways in a research note on Friday, May 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $17.00 target price on shares of Compass Pathways in a research note on Tuesday, July 7th. Royal Bank Of Canada lifted their price target on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Compass Pathways in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.36.

Compass Pathways Trading Up 0.1%

Shares of NASDAQ:CMPS opened at $11.27 on Monday. The company has a 50 day moving average of $12.52 and a 200-day moving average of $9.06. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.52 billion, a P/E ratio of -3.58 and a beta of 2.47. Compass Pathways has a twelve month low of $3.92 and a twelve month high of $15.40.

Compass Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. As a group, analysts anticipate that Compass Pathways will post -1.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Compass Pathways

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Compass Pathways by 67.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock valued at $26,000 after acquiring an additional 1,920 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in Compass Pathways in the 4th quarter valued at $38,000. Parallel Advisors LLC grew its position in Compass Pathways by 8,450.6% in the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock worth $40,000 after purchasing an additional 7,183 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Compass Pathways in the 3rd quarter worth $41,000. Finally, North Star Investment Management Corp. increased its holdings in shares of Compass Pathways by 1,354.0% during the 1st quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock worth $42,000 after purchasing an additional 7,000 shares during the period. 46.19% of the stock is currently owned by institutional investors.

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.