Nikko Asset Management Americas Inc. Cuts Stake in COMPASS Pathways plc (NASDAQ:CMPS)

Nikko Asset Management Americas Inc. lessened its holdings in COMPASS Pathways plc (NASDAQ:CMPS) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 253,345 shares of the company’s stock after selling 16,024 shares during the period. Nikko Asset Management Americas Inc.’s holdings in COMPASS Pathways were worth $955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Conservest Capital Advisors Inc. raised its stake in shares of COMPASS Pathways by 28.9% in the fourth quarter. Conservest Capital Advisors Inc. now owns 13,363 shares of the company’s stock valued at $51,000 after acquiring an additional 3,000 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in COMPASS Pathways during the 4th quarter worth about $41,000. Wealthfront Advisers LLC acquired a new stake in COMPASS Pathways in the 4th quarter valued at about $43,000. Flagship Harbor Advisors LLC purchased a new position in shares of COMPASS Pathways in the 4th quarter valued at about $43,000. Finally, Franklin Resources Inc. grew its position in shares of COMPASS Pathways by 4.4% during the third quarter. Franklin Resources Inc. now owns 295,785 shares of the company’s stock worth $1,810,000 after buying an additional 12,599 shares in the last quarter. Hedge funds and other institutional investors own 46.19% of the company’s stock.

Wall Street Analyst Weigh In

CMPS has been the topic of several analyst reports. Stifel Nicolaus assumed coverage on shares of COMPASS Pathways in a report on Thursday, February 27th. They issued a “buy” rating and a $11.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of COMPASS Pathways in a report on Wednesday, January 15th. Canaccord Genuity Group dropped their target price on COMPASS Pathways from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of COMPASS Pathways in a research note on Tuesday, March 4th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, COMPASS Pathways currently has an average rating of “Buy” and an average target price of $21.83.

COMPASS Pathways Price Performance

Shares of CMPS opened at $3.46 on Tuesday. The firm has a fifty day moving average price of $3.98 and a 200 day moving average price of $4.95. The stock has a market cap of $320.65 million, a PE ratio of -1.57 and a beta of 2.29. COMPASS Pathways plc has a 1-year low of $3.17 and a 1-year high of $10.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91.

COMPASS Pathways (NASDAQ:CMPS) last posted its earnings results on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). As a group, sell-side analysts anticipate that COMPASS Pathways plc will post -2.33 EPS for the current year.

About COMPASS Pathways

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.