Compass Pathways (NASDAQ:CMPS) Rating Increased to Hold at Wells Fargo & Company

Compass Pathways (NASDAQ:CMPS) was upgraded by research analysts at Wells Fargo & Company to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. B. Riley Financial assumed coverage on shares of Compass Pathways in a research note on Friday, April 24th. They issued a “buy” rating and a $17.00 price objective for the company. Stifel Nicolaus increased their price objective on Compass Pathways from $14.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Compass Pathways in a research report on Wednesday, July 8th. Maxim Group increased their price target 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, Evercore upgraded shares of Compass Pathways from an “in-line” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Compass Pathways Trading Up 0.1%

NASDAQ:CMPS opened at $11.27 on Monday. The company has a market capitalization of $1.52 billion, a P/E ratio of -3.58 and a beta of 2.47. The stock’s 50 day moving average price is $12.52 and its 200 day moving average price is $9.06. 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 has a 52 week low of $3.92 and a 52 week high of $15.40.

Compass Pathways (NASDAQ:CMPS) last posted its earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. On average, research analysts forecast that Compass Pathways will post -1.24 EPS for the current fiscal year.

Institutional Trading of Compass Pathways

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in Compass Pathways by 67.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after acquiring an additional 1,920 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Compass Pathways in the 4th quarter worth about $38,000. Parallel Advisors LLC increased its position in shares of Compass Pathways by 8,450.6% during the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock worth $40,000 after purchasing an additional 7,183 shares in the last quarter. Advisory Services Network LLC bought a new position in Compass Pathways during the 3rd quarter valued at about $41,000. Finally, North Star Investment Management Corp. boosted its position in Compass Pathways by 1,354.0% in the first quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock valued at $42,000 after buying an additional 7,000 shares in the last quarter. 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.