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

Key Points

• Wall Street Zen downgraded Compass Pathways from “hold” to “strong sell,” contrasting with a broader analyst consensus of “Moderate Buy” and an average price target of $23.36.
• Compass Pathways opened at $13.54, with a market capitalization of $1.83 billion; shares remain well above their 52-week low of $3.97 but below the high of $15.40.
• The company reported a quarterly loss of $1.88 per share, missing the consensus estimate of a $0.39 loss by $1.49. Institutional investors and hedge funds own 46.19% of the stock.

Compass Pathways (NASDAQ:CMPS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a report issued on Saturday.

CMPS has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on Compass Pathways from $14.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Oppenheimer restated an "outperform" rating on shares of Compass Pathways in a research report on Wednesday. UBS Group set a $18.00 target price on Compass Pathways in a research note on Thursday, May 7th. Canaccord Genuity Group increased their target price on Compass Pathways from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Compass Pathways in a research note on Friday, July 17th. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.36.

Compass Pathways Stock Down 0.1%

CMPS opened at $13.54 on Friday. The company has a fifty day moving average of $12.59 and a two-hundred day moving average of $9.34. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -2.93 and a beta of 2.50. Compass Pathways has a fifty-two week low of $3.97 and a fifty-two week high of $15.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.32 and a current ratio of 1.30.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($1.49). On average, research analysts expect that Compass Pathways will post -1.67 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Compass Pathways by 67.7% during the first 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 purchased a new position in shares of Compass Pathways in the fourth quarter valued at approximately $38,000. Parallel Advisors LLC boosted its stake in shares of Compass Pathways by 8,450.6% in the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company's stock worth $40,000 after acquiring an additional 7,183 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Compass Pathways in the third quarter worth approximately $41,000. Finally, North Star Investment Management Corp. increased its position in shares of Compass Pathways by 1,354.0% during the first 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 in the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source