Compass Pathways (NASDAQ:CMPS) Trading 6.5% Higher - Here's Why

Key Points

• Compass Pathways shares rose 6.5% to approximately $14.96 in Wednesday trading, although volume was 84% below the stock’s average daily volume.
• Analyst sentiment is broadly positive: BTIG, Evercore, B. Riley, and Stifel raised their targets, while the consensus rating is “Moderate Buy” with an average price target of $23.36.
• The company reported a quarterly loss of $1.88 per share, missing the $0.39 consensus estimate, while institutional investors and hedge funds own 46.19% of the stock.

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report) were up 6.5% during trading on Wednesday . The company traded as high as $14.60 and last traded at $14.9580. 556,640 shares changed hands during trading, a decline of 84% from the average daily volume of 3,543,970 shares. The stock had previously closed at $14.04.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMPS. BTIG Research upped their price objective on Compass Pathways from $14.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Evercore raised Compass Pathways from an "in-line" rating to an "outperform" rating and set a $21.00 price target on the stock in a research note on Wednesday, July 8th. B. Riley Financial raised their price objective on Compass Pathways from $17.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Stifel Nicolaus upped their target price on shares of Compass Pathways from $14.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Finally, Oppenheimer restated an "outperform" rating on shares of Compass Pathways in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Compass Pathways has a consensus rating of "Moderate Buy" and a consensus target price of $23.36.

Compass Pathways Trading Up 5.3%

The firm has a market cap of $2.05 billion, a PE ratio of -3.19 and a beta of 2.54. 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 has a fifty day moving average price of $13.06 and a 200 day moving average price of $10.45.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.88) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($1.49). Analysts forecast that Compass Pathways PLC Sponsored ADR will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Compass Pathways

Several institutional investors have recently bought and sold shares of CMPS. WINTON GROUP Ltd increased its stake in shares of Compass Pathways by 20.1% during the second quarter. WINTON GROUP Ltd now owns 17,900 shares of the company's stock worth $253,000 after acquiring an additional 3,000 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Compass Pathways in the second quarter valued at about $351,000. Squarepoint Ops LLC lifted its position in Compass Pathways by 751.1% in the second quarter. Squarepoint Ops LLC now owns 138,671 shares of the company's stock valued at $1,962,000 after purchasing an additional 122,378 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Compass Pathways by 4,292.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 30,306 shares of the company's stock valued at $402,000 after purchasing an additional 29,616 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in Compass Pathways in the 2nd quarter valued at approximately $43,000. 46.19% of the stock is owned by institutional investors and hedge funds.

Compass Pathways Company 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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