COMPASS Pathways (NASDAQ:CMPS) Reaches New 52-Week High After Analyst Upgrade

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price hit a new 52-week high during trading on Tuesday after BTIG Research raised their price target on the stock from $7.00 to $14.00. BTIG Research currently has a buy rating on the stock. COMPASS Pathways traded as high as $6.77 and last traded at $6.76, with a volume of 1063754 shares changing hands. The stock had previously closed at $6.29.

Other equities research analysts have also issued reports about the stock. Evercore ISI reaffirmed an “in-line” rating and set a $6.00 price objective (down from $11.00) on shares of COMPASS Pathways in a report on Monday, June 23rd. HC Wainwright dropped their target price on shares of COMPASS Pathways from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of COMPASS Pathways in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of COMPASS Pathways in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Trading of COMPASS Pathways

Large investors have recently made changes to their positions in the business. Nantahala Capital Management LLC lifted its holdings in shares of COMPASS Pathways by 47.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after acquiring an additional 1,350,698 shares during the last quarter. Vivo Capital LLC lifted its stake in shares of COMPASS Pathways by 109.1% in the 1st quarter. Vivo Capital LLC now owns 3,362,385 shares of the company’s stock valued at $9,616,000 after purchasing an additional 1,754,385 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of COMPASS Pathways by 4.0% in the 1st quarter. ARK Investment Management LLC now owns 1,804,803 shares of the company’s stock worth $5,162,000 after purchasing an additional 68,601 shares during the period. GMT Capital Corp increased its position in shares of COMPASS Pathways by 15.1% during the 1st quarter. GMT Capital Corp now owns 1,781,718 shares of the company’s stock valued at $5,096,000 after purchasing an additional 233,918 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in COMPASS Pathways by 279.9% during the 1st quarter. Woodline Partners LP now owns 1,754,856 shares of the company’s stock valued at $5,019,000 after buying an additional 1,292,927 shares during the period. 46.19% of the stock is currently owned by institutional investors.

COMPASS Pathways Stock Performance

The company has a market capitalization of $656.23 million, a P/E ratio of -3.72 and a beta of 2.21. The business has a 50-day moving average of $5.11 and a 200-day moving average of $4.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.82 and a quick ratio of 8.82.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01). On average, sell-side analysts anticipate that COMPASS Pathways PLC Sponsored ADR will post -2.33 EPS for the current year.

COMPASS Pathways Company Profile

COMPASS Pathways plc operates as a mental health care company 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.