Compass Pathways (NASDAQ:CMPS) Trading 11.4% Higher – Here’s What Happened

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) rose 11.4% on Thursday . The company traded as high as $14.99 and last traded at $15.3670. Approximately 872,062 shares changed hands during trading, a decline of 75% from the average session volume of 3,535,275 shares. The stock had previously closed at $13.80.

Wall Street Analyst Weigh In

CMPS has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price target on Compass Pathways from $14.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. TD Cowen restated a “buy” rating on shares of Compass Pathways in a research note on Monday, June 1st. Wolfe Research reiterated an “outperform” rating on shares of Compass Pathways in a research note on Tuesday, July 7th. Royal Bank Of Canada reduced their price target on shares of Compass Pathways from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, HC Wainwright decreased their price objective on shares of Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.36.

Compass Pathways Stock Up 7.6%

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.06 billion, a PE ratio of -3.21 and a beta of 2.54. The company’s 50 day moving average price is $13.17 and its two-hundred day moving average price is $10.72.

Compass Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($1.49). On average, equities research analysts expect that Compass Pathways PLC Sponsored ADR will post -1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Compass Pathways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Health Investments LP boosted its position in shares of Compass Pathways by 35.6% in the first quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock worth $11,394,000 after purchasing an additional 541,039 shares during the period. Jefferies Financial Group Inc. lifted its stake in shares of Compass Pathways by 14.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,576,905 shares of the company’s stock valued at $10,881,000 after buying an additional 200,000 shares in the last quarter. Orbimed Advisors LLC purchased a new position in shares of Compass Pathways during the 1st quarter valued at $6,363,000. Affinity Asset Advisors LLC boosted its holdings in Compass Pathways by 454.2% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,108,483 shares of the company’s stock worth $6,130,000 after buying an additional 908,483 shares during the period. Finally, Propel Bio Management LLC increased its stake in Compass Pathways by 69.0% in the 4th quarter. Propel Bio Management LLC now owns 861,778 shares of the company’s stock worth $5,946,000 after buying an additional 351,778 shares in the last quarter. Institutional investors own 46.19% of the company’s stock.

About Compass Pathways

Compass Pathways plc (NASDAQ: CMPS) is a biotechnology company developing novel treatments for mental health conditions. The company’s primary focus is psilocybin therapy, which combines a proprietary investigational formulation with psychological support delivered by trained therapists.

Its lead candidate, COMP360, is a synthetic crystalline formulation of psilocybin being studied primarily for treatment-resistant depression. Compass Pathways has conducted mid- and late-stage clinical trials evaluating COMP360 and has also investigated its potential use in other difficult-to-treat psychiatric conditions, including post-traumatic stress disorder and anorexia nervosa.