COMPASS Pathways (NASDAQ:CMPS) Sets New 12-Month High - What's Next?

Key Points

• COMPASS Pathways' stock reached a new 52-week high of $6.63, closing at $6.35 with significant trading volume of 159,785 shares.
• Analysts have given mixed ratings, with Canaccord Genuity maintaining a buy rating and a price target of $15.00, while Weiss Ratings issued a "sell" rating.
• The company is currently developing a psilocybin therapy for mental health treatment, with its lead product COMP360 in Phase III trials for treatment-resistant depression.

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $6.63 and last traded at $6.35, with a volume of 159785 shares trading hands. The stock had previously closed at $6.43.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of COMPASS Pathways in a report on Saturday, September 27th. Canaccord Genuity Group restated a "buy" rating and issued a $15.00 price target on shares of COMPASS Pathways in a research note on Friday, August 1st. Evercore ISI reiterated an "in-line" rating and set a $6.00 price target (down previously from $11.00) on shares of COMPASS Pathways in a research report on Monday, June 23rd. Finally, HC Wainwright decreased their price objective on shares of COMPASS Pathways from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.29.

COMPASS Pathways Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 8.82 and a quick ratio of 8.82. The firm has a market capitalization of $617.37 million, a price-to-earnings ratio of -3.48 and a beta of 2.21. The stock has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $4.10.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.01). As a group, analysts expect that COMPASS Pathways PLC Sponsored ADR will post -2.33 EPS for the current year.

Institutional Trading of COMPASS Pathways

Hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC grew its stake in COMPASS Pathways by 47.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company's stock worth $11,704,000 after purchasing an additional 1,350,698 shares in the last quarter. Vivo Capital LLC grew its position in shares of COMPASS Pathways by 109.1% during the first quarter. Vivo Capital LLC now owns 3,362,385 shares of the company's stock worth $9,616,000 after buying an additional 1,754,385 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of COMPASS Pathways by 4.0% during the first quarter. ARK Investment Management LLC now owns 1,804,803 shares of the company's stock worth $5,162,000 after buying an additional 68,601 shares during the period. GMT Capital Corp increased its stake in shares of COMPASS Pathways by 15.1% during the first quarter. GMT Capital Corp now owns 1,781,718 shares of the company's stock worth $5,096,000 after buying an additional 233,918 shares during the period. Finally, Woodline Partners LP lifted its stake in COMPASS Pathways by 279.9% in the first quarter. Woodline Partners LP now owns 1,754,856 shares of the company's stock worth $5,019,000 after acquiring an additional 1,292,927 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.