Wall Street Zen Downgrades Compass Pathways (NASDAQ:CMPS) to Strong Sell

Key Points

• Wall Street Zen downgraded Compass Pathways to “strong sell” from “sell,” despite the broader analyst consensus remaining “Moderate Buy” with a $23.36 target price.
• Other analysts remain generally positive, including Evercore, Canaccord Genuity, Wolfe Research and RBC, with price targets ranging from $20 to $25.
• Compass Pathways reported a quarterly loss of $1.88 per share, missing the consensus estimate of a $0.39 loss by $1.49; shares opened at $13.33, near their 52-week high of $15.40.

Compass Pathways (NASDAQ:CMPS - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Monday.

Several other brokerages also recently commented on CMPS. Wolfe Research reaffirmed an "outperform" rating on shares of Compass Pathways in a report on Tuesday, July 7th. Compass Point set a $25.00 price target on Compass Pathways in a research note on Tuesday, July 7th. Evercore upgraded Compass Pathways from an "in-line" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Wednesday, July 8th. Canaccord Genuity Group lifted their price objective on Compass Pathways from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Finally, Royal Bank Of Canada reduced their target price on Compass Pathways from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.36.

Compass Pathways Stock Performance

Shares of NASDAQ CMPS opened at $13.33 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.30. Compass Pathways has a 52-week low of $4.29 and a 52-week high of $15.40. The firm has a 50 day moving average price of $12.85 and a two-hundred day moving average price of $9.82. The stock has a market cap of $1.85 billion, a P/E ratio of -2.89 and a beta of 2.50.

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 the consensus estimate of ($0.39) by ($1.49). As a group, equities analysts forecast that Compass Pathways will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Compass Pathways

A number of institutional investors and hedge funds have recently made changes to their positions in CMPS. TD Waterhouse Canada Inc. increased its position 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 buying an additional 29,616 shares in the last quarter. Ancora Advisors LLC acquired a new position in Compass Pathways during the 2nd quarter worth approximately $43,000. Seven Fleet Capital Management LP boosted its holdings in Compass Pathways by 295.1% in the first quarter. Seven Fleet Capital Management LP now owns 158,021 shares of the company's stock worth $874,000 after acquiring an additional 118,021 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Compass Pathways by 8,450.6% in the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company's stock worth $40,000 after acquiring an additional 7,183 shares in the last quarter. Finally, Vivo Capital LLC acquired a new stake in Compass Pathways in the first quarter valued at approximately $1,106,000. Institutional investors 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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