Compass Pathways (NASDAQ:CMPS) Shares Up 11.4% – Here’s What Happened

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) were up 11.4% during mid-day trading on Thursday . The stock traded as high as $14.99 and last traded at $15.3670. 872,062 shares changed hands during trading, a decline of 75% from the average session volume of 3,535,275 shares. The stock had previously closed at $13.80.

Analyst Upgrades and Downgrades

CMPS has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Compass Pathways from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wolfe Research reiterated an “outperform” rating on shares of Compass Pathways in a report on Tuesday, July 7th. Wells Fargo & Company assumed coverage on Compass Pathways in a report on Monday, July 27th. They set an “equal weight” rating and a $13.00 target price for the company. TD Cowen reissued a “buy” rating on shares of Compass Pathways in a research note on Monday, June 1st. Finally, Canaccord Genuity Group boosted their price target on Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, June 26th. One research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.36.

Compass Pathways Stock Up 1.3%

The firm’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $10.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market capitalization of $2.10 billion, a P/E ratio of -3.29 and a beta of 2.54.

Compass Pathways (NASDAQ:CMPS) last announced its quarterly earnings data 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, research analysts expect that Compass Pathways PLC Sponsored ADR will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Compass Pathways

Institutional investors have recently added to or reduced their stakes in the company. Eagle Health Investments LP lifted its stake in Compass Pathways by 35.6% in the first quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock valued at $11,394,000 after acquiring an additional 541,039 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in shares of Compass Pathways by 14.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,576,905 shares of the company’s stock worth $10,881,000 after purchasing an additional 200,000 shares during the last quarter. Orbimed Advisors LLC bought a new stake in shares of Compass Pathways in the 1st quarter valued at about $6,363,000. Affinity Asset Advisors LLC raised its holdings in shares of 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 purchasing an additional 908,483 shares during the period. Finally, Propel Bio Management LLC lifted its stake in Compass Pathways by 69.0% in the 4th quarter. Propel Bio Management LLC now owns 861,778 shares of the company’s stock valued at $5,946,000 after purchasing an additional 351,778 shares during the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

Compass Pathways Company Profile

Compass Pathways plc (NASDAQ: CMPS) is a biotechnology company developing novel treatments for mental health conditions. The company’s primary focus is psilocybin therapy, which combines a proprietary investigational formulation with psychological support delivered by trained therapists.

Its lead candidate, COMP360, is a synthetic crystalline formulation of psilocybin being studied primarily for treatment-resistant depression. Compass Pathways has conducted mid- and late-stage clinical trials evaluating COMP360 and has also investigated its potential use in other difficult-to-treat psychiatric conditions, including post-traumatic stress disorder and anorexia nervosa.