COMPASS Pathways (NASDAQ:CMPS) Shares Gap Up to $7.19

COMPASS Pathways plc (NASDAQ:CMPS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $7.19, but opened at $8.30. COMPASS Pathways shares last traded at $8.05, with a volume of 735,331 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMPS. Royal Bank of Canada began coverage on COMPASS Pathways in a report on Tuesday, July 23rd. They set an “outperform” rating and a $23.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Friday, June 21st. HC Wainwright reissued a “buy” rating and set a $120.00 price objective on shares of COMPASS Pathways in a report on Friday, August 23rd. Finally, Canaccord Genuity Group dropped their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $47.40.

COMPASS Pathways Price Performance

The company has a market capitalization of $547.05 million, a price-to-earnings ratio of -3.38 and a beta of 2.27. The company has a 50-day moving average price of $6.90 and a 200-day moving average price of $8.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.23 and a current ratio of 15.23.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same quarter last year, the business posted ($0.62) earnings per share. On average, equities research analysts expect that COMPASS Pathways plc will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC acquired a new position in shares of COMPASS Pathways in the 4th quarter valued at approximately $33,000. Tidal Investments LLC grew its position in shares of COMPASS Pathways by 43.6% in the 1st quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock valued at $159,000 after purchasing an additional 5,795 shares during the period. AdvisorShares Investments LLC grew its position in shares of COMPASS Pathways by 13.5% in the 2nd quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock valued at $362,000 after purchasing an additional 7,243 shares during the period. Blue Trust Inc. acquired a new position in shares of COMPASS Pathways in the 2nd quarter valued at approximately $81,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of COMPASS Pathways in the 1st quarter valued at approximately $139,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.