Compass Pathways (NASDAQ:CMPS) Trading 9.8% Higher - What's Next?

Key Points

• Compass Pathways shares rose 9.8% to $12.96 in mid-day trading, reaching as high as $13.20, on approximately 3.25 million shares traded.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $23.36. Several firms recently raised their targets, including Maxim Group to $20 and RBC to $22.
• The company reported quarterly EPS of -$1.88, missing the consensus estimate of -$0.39 by $1.49. Institutional investors own 46.19% of the stock, with several funds increasing their positions.

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report)'s share price traded up 9.8% during mid-day trading on Wednesday . The company traded as high as $13.20 and last traded at $12.96. Approximately 3,254,767 shares traded hands during trading, a decline of 13% from the average daily volume of 3,720,214 shares. The stock had previously closed at $11.80.

Analyst Ratings Changes

Several research firms have recently weighed in on CMPS. Maxim Group raised their price target on shares of Compass Pathways from $12.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price objective on shares of Compass Pathways in a research note on Wednesday, July 8th. Canaccord Genuity Group increased their price objective on shares of Compass Pathways from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 26th. Royal Bank Of Canada raised their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Finally, Evercore upgraded Compass Pathways from an "in-line" rating to an "outperform" rating and set a $21.00 target price on the stock in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.36.

Compass Pathways Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32. The firm's 50-day moving average price is $12.51 and its two-hundred day moving average price is $9.22. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -4.25 and a beta of 2.50.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last released its quarterly earnings data 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, analysts expect that Compass Pathways PLC Sponsored ADR will post -1.24 EPS for the current fiscal year.

Institutional Trading of Compass Pathways

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Compass Pathways by 49.8% in the first quarter. Royal Bank of Canada now owns 89,446 shares of the company's stock valued at $256,000 after acquiring an additional 29,733 shares during the last quarter. Acadian Asset Management LLC increased its stake in Compass Pathways by 42.0% during the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company's stock worth $686,000 after acquiring an additional 71,112 shares during the last quarter. Nantahala Capital Management LLC increased its stake in Compass Pathways by 47.7% during the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company's stock worth $11,704,000 after acquiring an additional 1,350,698 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Compass Pathways by 38.0% in the second quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company's stock valued at $2,394,000 after purchasing an additional 235,345 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new stake in Compass Pathways in the second quarter valued at $59,000. Institutional investors and hedge funds own 46.19% of the company's stock.

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.

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