Short Interest in Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) Rises By 39.5%

Key Points

• Short interest in Compass Pathways rose 39.5% to 8,892,595 shares as of March 31, equal to 9.6% of shares outstanding and a short-interest ratio of 3.9 days.
• Analyst sentiment is mixed but the consensus is a Moderate Buy with a $21.63 average price target, ranging from HC Wainwright's $70 target to Weiss Ratings' sell recommendation.
• Compass recently missed quarterly EPS (reported -$1.00 vs. -$0.41 expected), has a market cap of $572.3M, and analysts forecast -2.33 EPS for the current fiscal year.

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 8,892,595 shares, a growth of 39.5% from the March 15th total of 6,376,695 shares. Based on an average daily trading volume, of 2,293,910 shares, the short-interest ratio is currently 3.9 days. Currently, 9.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

CMPS has been the topic of several recent analyst reports. HC Wainwright increased their target price on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Canaccord Genuity Group cut their price target on Compass Pathways from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Royal Bank Of Canada raised their price objective on Compass Pathways from $21.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, February 18th. Finally, Morgan Stanley cut their price objective on Compass Pathways from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.63.

Hedge Funds Weigh In On Compass Pathways

Hedge funds and other institutional investors have recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new stake in shares of Compass Pathways in the fourth quarter worth approximately $38,000. Advisory Services Network LLC acquired a new position in Compass Pathways in the 3rd quarter valued at $41,000. Caitong International Asset Management Co. Ltd purchased a new position in Compass Pathways in the 4th quarter valued at $47,000. China Universal Asset Management Co. Ltd. boosted its stake in Compass Pathways by 46.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company's stock worth $51,000 after purchasing an additional 5,817 shares during the last quarter. Finally, BIT Capital GmbH acquired a new stake in Compass Pathways during the 3rd quarter worth $54,000. Hedge funds and other institutional investors own 46.19% of the company's stock.

Compass Pathways Price Performance

CMPS traded up $0.21 during midday trading on Wednesday, hitting $5.96. 2,230,185 shares of the company traded hands, compared to its average volume of 2,726,615. The business has a 50 day simple moving average of $6.35 and a two-hundred day simple moving average of $6.35. Compass Pathways has a 52-week low of $2.25 and a 52-week high of $8.90. The company has a market capitalization of $572.28 million, a price-to-earnings ratio of -1.93 and a beta of 2.01. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55.

Compass Pathways (NASDAQ:CMPS - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.59). On average, equities analysts forecast that Compass Pathways will post -2.33 earnings per share for the current fiscal year.

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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