COMPASS Pathways (NASDAQ:CMPS) Sets New 52-Week High After Analyst Upgrade

Key Points

• Shares of COMPASS Pathways reached a new 52-week high after an analyst from BTIG Research upgraded the price target from $7.00 to $14.00, currently maintaining a buy rating.
• The stock saw a significant increase of 8.2%, closing last at $6.76, up from the previous close of $6.29.
• Hedge funds are actively investing, with institutional ownership currently at 46.19%, indicating strong interest from large investors.

Shares of COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report) reached a new 52-week high on Tuesday after BTIG Research raised their price target on the stock from $7.00 to $14.00. BTIG Research currently has a buy rating on the stock. COMPASS Pathways traded as high as $6.77 and last traded at $6.76, with a volume of 1063754 shares. The stock had previously closed at $6.29.

CMPS has been the topic of a number of other reports. HC Wainwright reduced their price objective on COMPASS Pathways from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Evercore ISI reissued an "in-line" rating and issued a $6.00 target price (down from $11.00) on shares of COMPASS Pathways in a research note on Monday, June 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of COMPASS Pathways in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $15.00 target price on shares of COMPASS Pathways in a research note on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.00.

Hedge Funds Weigh In On COMPASS Pathways

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC acquired a new stake in COMPASS Pathways in the first quarter valued at approximately $29,000. GAMMA Investing LLC raised its holdings in shares of COMPASS Pathways by 93.6% during the first quarter. GAMMA Investing LLC now owns 10,349 shares of the company's stock worth $30,000 after purchasing an additional 5,003 shares during the last quarter. Ethos Financial Group LLC purchased a new position in COMPASS Pathways in the first quarter valued at $35,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in COMPASS Pathways in the first quarter valued at $41,000. Finally, Flagship Harbor Advisors LLC increased its stake in shares of COMPASS Pathways by 27.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,446 shares of the company's stock worth $41,000 after purchasing an additional 3,134 shares in the last quarter. 46.19% of the stock is currently owned by institutional investors.

COMPASS Pathways Stock Up 8.2%

The firm has a market cap of $652.87 million, a PE ratio of -3.67 and a beta of 2.21. The business's 50 day moving average price is $5.07 and its 200 day moving average price is $4.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.82 and a quick ratio of 8.82.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.01). On average, equities research analysts expect that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current year.

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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