Orbimed Advisors LLC Buys New Shares in Compass Pathways PLC Sponsored ADR $CMPS

Key Points

• Orbimed Advisors initiated a position in Compass Pathways, purchasing 1.15 million shares worth approximately $6.36 million and representing 0.89% of the company. Institutional investors collectively own 46.19% of CMPS.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24.15. Recent targets range from $17 to $70.
• CMPS opened at $11.26, with a market capitalization of approximately $1.52 billion and a 52-week trading range of $3.92 to $15.40. The company reported a quarterly loss of $0.30 per share, beating estimates of a $0.45 loss.

Orbimed Advisors LLC purchased a new position in Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,150,646 shares of the company's stock, valued at approximately $6,363,000. Orbimed Advisors LLC owned 0.89% of Compass Pathways at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Affinity Asset Advisors LLC raised its holdings in shares of Compass Pathways by 454.2% during the first quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company's stock valued at $6,130,000 after purchasing an additional 908,483 shares during the period. Entropy Technologies LP acquired a new stake in shares of Compass Pathways in the 1st quarter valued at about $110,000. Amova Asset Management Americas Inc. grew its stake in shares of Compass Pathways by 49.1% in the 1st quarter. Amova Asset Management Americas Inc. now owns 368,828 shares of the company's stock valued at $2,029,000 after buying an additional 121,491 shares during the period. Parallel Advisors LLC increased its position in Compass Pathways by 8,450.6% in the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company's stock valued at $40,000 after buying an additional 7,183 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Compass Pathways by 49.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 368,828 shares of the company's stock valued at $2,040,000 after buying an additional 121,491 shares in the last quarter. 46.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on CMPS shares. HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Compass Pathways in a report on Wednesday, July 8th. Oppenheimer reaffirmed an "outperform" rating and set a $20.00 target price on shares of Compass Pathways in a research report on Tuesday, July 7th. Wall Street Zen upgraded Compass Pathways from a "strong sell" rating to a "hold" rating in a report on Saturday, May 16th. Morgan Stanley reiterated an "overweight" rating and issued a $17.00 target price on shares of Compass Pathways in a report on Tuesday, July 7th. Finally, BTIG Research boosted their price target on shares of Compass Pathways from $14.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.15.

Compass Pathways Price Performance

CMPS stock opened at $11.26 on Monday. 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 business has a 50-day simple moving average of $12.51 and a two-hundred day simple moving average of $9.03. The company has a market capitalization of $1.52 billion, a P/E ratio of -3.57 and a beta of 2.47. Compass Pathways PLC Sponsored ADR has a 52-week low of $3.92 and a 52-week high of $15.40.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.15. Research analysts expect that Compass Pathways PLC Sponsored ADR will post -1.24 EPS for the current fiscal year.

Compass Pathways Profile

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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