Compass Pathways (NASDAQ:CMPS) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Compass Pathways (NASDAQ:CMPS) from a sell rating to a strong sell rating in a research note released on Monday.

Other research analysts also recently issued research reports about the stock. Compass Point set a $25.00 price target on shares of Compass Pathways in a research note on Tuesday, July 7th. Morgan Stanley lifted their price objective on shares of Compass Pathways from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Canaccord Genuity Group raised their target price on shares of Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, June 26th. TD Cowen restated a “buy” rating on shares of Compass Pathways in a research note on Monday, June 1st. Finally, Royal Bank Of Canada lowered their price target on Compass Pathways from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.36.

Compass Pathways Stock Performance

Shares of Compass Pathways stock opened at $14.61 on Monday. The stock’s fifty day moving average is $13.02 and its two-hundred day moving average is $10.00. The company has a market capitalization of $2.02 billion, a PE ratio of -3.16 and a beta of 2.50. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.60. Compass Pathways has a 52 week low of $4.40 and a 52 week high of $15.40.

Compass Pathways (NASDAQ:CMPS) last released its earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($1.49). As a group, analysts expect that Compass Pathways will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Several hedge funds have recently bought and sold shares of CMPS. TD Waterhouse Canada Inc. increased its holdings in shares of Compass Pathways by 4,292.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 30,306 shares of the company’s stock valued at $402,000 after purchasing an additional 29,616 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Compass Pathways in the 2nd quarter valued at about $43,000. Seven Fleet Capital Management LP raised its holdings in Compass Pathways by 295.1% in the 1st quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company’s stock worth $874,000 after purchasing an additional 118,021 shares during the period. Parallel Advisors LLC raised its holdings 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 period. Finally, Vivo Capital LLC purchased a new position in Compass Pathways during the first quarter worth approximately $1,106,000. Hedge funds and other institutional investors 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.