Compass Pathways (NASDAQ:CMPS) Trading Up 8.5% – Time to Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price was up 8.5% on Thursday . The stock traded as high as $11.74 and last traded at $11.7940. Approximately 2,549,103 shares were traded during trading, a decline of 29% from the average daily volume of 3,589,368 shares. The stock had previously closed at $10.87.

Analyst Ratings Changes

Several analysts have recently issued reports on CMPS shares. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. UBS Group set a $18.00 price objective on Compass Pathways in a research report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Compass Pathways from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Maxim Group upped their target price on shares of Compass Pathways from $12.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Compass Pathways in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.58.

Compass Pathways Stock Performance

The stock’s fifty day simple moving average is $7.45 and its two-hundred day simple moving average is $6.83. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -3.68 and a beta of 2.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Equities research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -0.97 EPS for the current year.

Hedge Funds Weigh In On Compass Pathways

A number of large investors have recently modified their holdings of CMPS. Royal Bank of Canada lifted its stake in shares of Compass Pathways by 49.8% in the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock valued at $256,000 after purchasing an additional 29,733 shares in the last quarter. Acadian Asset Management LLC increased its position in Compass Pathways by 42.0% during the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock worth $686,000 after purchasing an additional 71,112 shares in the last quarter. Nantahala Capital Management LLC increased its position in Compass Pathways by 47.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after purchasing an additional 1,350,698 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Compass Pathways by 38.0% in the second quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock valued at $2,394,000 after buying an additional 235,345 shares during the period. Finally, Northeast Financial Consultants Inc acquired a new position in Compass Pathways during the second quarter valued at approximately $59,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

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.