COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Down 7.7% in November

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 3,850,000 shares, a drop of 7.7% from the November 15th total of 4,170,000 shares. Based on an average daily volume of 849,700 shares, the short-interest ratio is currently 4.5 days.

Insiders Place Their Bets

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $6.05, for a total value of $16,093,000.00. Following the completion of the sale, the insider now directly owns 6,905,774 shares in the company, valued at $41,779,932.70. This represents a 27.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.25% of the company’s stock.

Institutional Investors Weigh In On COMPASS Pathways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new position in shares of COMPASS Pathways during the 2nd quarter valued at approximately $81,000. Green Alpha Advisors LLC purchased a new stake in shares of COMPASS Pathways in the third quarter valued at $99,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of COMPASS Pathways in the third quarter valued at $131,000. Fore Capital LLC bought a new stake in shares of COMPASS Pathways in the 2nd quarter worth about $181,000. Finally, Geode Capital Management LLC boosted its stake in shares of COMPASS Pathways by 160.3% during the 3rd quarter. Geode Capital Management LLC now owns 42,169 shares of the company’s stock worth $266,000 after purchasing an additional 25,970 shares during the period. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CMPS shares. Maxim Group decreased their price objective on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Royal Bank of Canada reduced their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, HC Wainwright decreased their price objective on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, COMPASS Pathways currently has a consensus rating of “Buy” and an average price target of $33.60.

COMPASS Pathways Price Performance

Shares of NASDAQ:CMPS traded down $0.03 during midday trading on Tuesday, reaching $4.30. 290,251 shares of the company were exchanged, compared to its average volume of 633,830. The stock has a market cap of $294.21 million, a PE ratio of -1.97 and a beta of 2.24. The business’s fifty day moving average is $5.19 and its two-hundred day moving average is $6.30. COMPASS Pathways has a one year low of $4.00 and a one year high of $12.75. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15.

COMPASS Pathways (NASDAQ:CMPS) last posted its earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same quarter in the previous year, the business earned ($0.67) earnings per share. As a group, analysts predict that COMPASS Pathways will post -2.33 earnings per share for the current year.

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.