Compass Pathways (NASDAQ:CMPS) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Compass Pathways shares fell below their 200-day moving average, trading as low as $7.54 versus the $10.39 average, and last changing hands at $8.41 amid heavy volume.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $23.36, although individual targets range from $13 to $65.
• The company reported a significant quarterly EPS miss, posting a loss of $1.88 per share versus the expected $0.39 loss; analysts project a full-year loss of $1.26 per share.

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.39 and traded as low as $7.54. Compass Pathways shares last traded at $8.41, with a volume of 16,823,684 shares changing hands.

Wall Street Analysts Forecast Growth

CMPS has been the subject of several analyst reports. BTIG Research increased their target price on Compass Pathways from $14.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Wall Street Zen lowered shares of Compass Pathways from a "sell" rating to a "strong sell" rating in a report on Saturday. Royal Bank Of Canada cut their target price on Compass Pathways from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company assumed coverage on Compass Pathways in a report on Monday, July 27th. They set an "equal weight" rating and a $13.00 price target on the stock. Finally, HC Wainwright reduced their price target on Compass Pathways from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.36.

Compass Pathways Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The business's 50 day moving average price is $12.81 and its two-hundred day moving average price is $10.39. The stock has a market cap of $1.16 billion, a P/E ratio of -1.82 and a beta of 2.55.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($1.49). As a group, sell-side analysts expect that Compass Pathways PLC Sponsored ADR will post -1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Compass Pathways

A number of large investors have recently made changes to their positions in the company. North Star Investment Management Corp. lifted its stake in shares of Compass Pathways by 23.9% in the 3rd quarter. North Star Investment Management Corp. now owns 9,317 shares of the company's stock worth $116,000 after purchasing an additional 1,800 shares during the period. EverSource Wealth Advisors LLC grew its position in Compass Pathways by 67.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company's stock valued at $26,000 after buying an additional 1,920 shares during the period. WINTON GROUP Ltd increased its holdings in Compass Pathways by 20.1% during the second quarter. WINTON GROUP Ltd now owns 17,900 shares of the company's stock valued at $253,000 after buying an additional 3,000 shares during the last quarter. Ancora Advisors LLC bought a new position in Compass Pathways in the second quarter worth approximately $43,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Compass Pathways by 15.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 24,432 shares of the company's stock worth $317,000 after acquiring an additional 3,249 shares during the last quarter. 46.19% of the stock is currently owned by institutional investors.

About Compass Pathways

Compass Pathways plc is a biotechnology company developing novel treatments for mental health conditions. The company's lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.

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