COMPASS Pathways (NASDAQ:CMPS) Given New $40.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has reduced the price target for COMPASS Pathways (NASDAQ:CMPS) from $45.00 to $40.00, while maintaining a "buy" rating on the stock.
• COMPASS Pathways reported a quarterly loss of ($0.38) earnings per share, slightly below analysts' estimates, with a current forecast of -2.33 EPS for the fiscal year.
• The stock is currently trading around $4.74 with a market capitalization of $443.86 million and significant recent institutional investment increases.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) had its price target reduced by investment analysts at HC Wainwright from $45.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock.

Several other equities research analysts have also recently issued reports on CMPS. Evercore ISI restated an "in-line" rating and set a $6.00 price objective (down from $11.00) on shares of COMPASS Pathways in a research report on Monday, June 23rd. Canaccord Genuity Group reissued a "buy" rating and issued a $15.00 price objective on shares of COMPASS Pathways in a research note on Friday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $12.00 price objective on shares of COMPASS Pathways in a research report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.29.

COMPASS Pathways Stock Performance

Shares of CMPS stock traded up $0.40 during trading hours on Monday, hitting $4.74. The company's stock had a trading volume of 1,530,864 shares, compared to its average volume of 1,838,477. The company has a 50 day moving average of $3.99 and a 200 day moving average of $3.80. The stock has a market cap of $443.86 million, a PE ratio of -2.56 and a beta of 2.16. The company has a current ratio of 8.82, a quick ratio of 8.82 and a debt-to-equity ratio of 0.16. COMPASS Pathways has a 12-month low of $2.25 and a 12-month high of $8.54.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.01). On average, sell-side analysts forecast that COMPASS Pathways will post -2.33 EPS for the current fiscal year.

Institutional Trading of COMPASS Pathways

A number of institutional investors and hedge funds have recently bought and sold shares of CMPS. Flagship Harbor Advisors LLC boosted its stake in shares of COMPASS Pathways by 95.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 28,171 shares of the company's stock valued at $79,000 after buying an additional 13,725 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in COMPASS Pathways by 67.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,842 shares of the company's stock worth $67,000 after buying an additional 9,569 shares during the period. Conservest Capital Advisors Inc. increased its holdings in shares of COMPASS Pathways by 32.5% during the second quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company's stock valued at $57,000 after purchasing an additional 5,000 shares during the period. Stableford Capital II LLC acquired a new position in COMPASS Pathways during the second quarter worth about $459,000. Finally, Acadian Asset Management LLC boosted its position in shares of COMPASS Pathways by 42.0% in the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company's stock valued at $686,000 after purchasing an additional 71,112 shares during the period. Institutional investors and hedge funds own 46.19% of the company's stock.

About COMPASS Pathways

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.

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