COMPASS Pathways (NASDAQ:CMPS) Shares Gap Down After Insider Selling

COMPASS Pathways plc (NASDAQ:CMPSGet Free Report) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $9.68, but opened at $9.26. COMPASS Pathways shares last traded at $9.21, with a volume of 171,834 shares traded.

Specifically, major shareholder George Jay Goldsmith sold 25,750 shares of COMPASS Pathways stock in a transaction on Monday, April 1st. The stock was sold at an average price of $8.96, for a total value of $230,720.00. Following the completion of the sale, the insider now directly owns 4,010,404 shares of the company’s stock, valued at approximately $35,933,219.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ekaterina Malievskaia sold 19,853 shares of COMPASS Pathways stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $10.59, for a total value of $210,243.27. Following the completion of the sale, the director now directly owns 4,144,994 shares of the company’s stock, valued at approximately $43,895,486.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder George Jay Goldsmith sold 25,750 shares of COMPASS Pathways stock in a transaction on Monday, April 1st. The shares were sold at an average price of $8.96, for a total value of $230,720.00. Following the completion of the sale, the insider now directly owns 4,010,404 shares of the company’s stock, valued at $35,933,219.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,675 shares of company stock valued at $1,511,656. Company insiders own 23.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMPS. Deutsche Bank Aktiengesellschaft began coverage on COMPASS Pathways in a research note on Tuesday, December 12th. They set a “buy” rating and a $16.00 price objective for the company. Morgan Stanley began coverage on COMPASS Pathways in a research note on Monday. They set an “overweight” rating and a $30.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 price objective on shares of COMPASS Pathways in a research note on Friday, March 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $45.83.

Get Our Latest Research Report on COMPASS Pathways

COMPASS Pathways Trading Down 2.4 %

The company has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $8.25. The company has a quick ratio of 13.33, a current ratio of 13.33 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $585.33 million, a P/E ratio of -3.95 and a beta of 2.48.

COMPASS Pathways (NASDAQ:CMPSGet Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.16). On average, sell-side analysts expect that COMPASS Pathways plc will post -2.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMPS. ARK Investment Management LLC lifted its holdings in shares of COMPASS Pathways by 7.6% in the fourth quarter. ARK Investment Management LLC now owns 2,618,871 shares of the company’s stock valued at $22,915,000 after purchasing an additional 186,040 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of COMPASS Pathways in the third quarter valued at about $597,000. Armistice Capital LLC bought a new stake in shares of COMPASS Pathways in the third quarter valued at about $2,960,000. Vivo Capital LLC bought a new stake in shares of COMPASS Pathways in the third quarter valued at about $11,899,000. Finally, AE Wealth Management LLC bought a new stake in shares of COMPASS Pathways in the third quarter valued at about $106,000. 46.19% of the stock is currently owned by institutional investors.

COMPASS Pathways Company Profile

(Get Free Report)

COMPASS Pathways plc operates as a mental health care company primarily in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.

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