Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) Sees Large Growth in Short Interest

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 8,892,595 shares, an increase of 39.5% from the March 15th total of 6,376,695 shares. Currently, 9.6% of the company’s stock are short sold. Based on an average trading volume of 2,293,910 shares, the days-to-cover ratio is presently 3.9 days.

Compass Pathways Stock Up 11.7%

Shares of NASDAQ:CMPS opened at $6.66 on Friday. The firm’s 50 day moving average price is $6.36 and its 200 day moving average price is $6.35. The stock has a market cap of $639.49 million, a price-to-earnings ratio of -2.16 and a beta of 2.01. Compass Pathways has a fifty-two week low of $2.25 and a fifty-two week high of $8.90. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.55.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings data on Tuesday, March 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.59). As a group, equities research analysts predict that Compass Pathways will post -2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMPS. Royal Bank Of Canada raised their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. HC Wainwright raised their target price on shares of Compass Pathways from $40.00 to $70.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Morgan Stanley reduced their target price on shares of Compass Pathways from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Compass Point set a $15.00 target price on shares of Compass Pathways in a report on Thursday, February 12th. One equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.63.

Institutional Trading of Compass Pathways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd acquired a new stake in Compass Pathways during the fourth quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Compass Pathways during the fourth quarter worth approximately $47,000. Advisory Services Network LLC acquired a new stake in Compass Pathways during the third quarter worth approximately $41,000. BIT Capital GmbH acquired a new stake in Compass Pathways during the third quarter worth approximately $54,000. Finally, MML Investors Services LLC acquired a new stake in Compass Pathways during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds 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.