Compass Pathways (NASDAQ:CMPS) Shares Down 6.3% – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price fell 6.3% during mid-day trading on Wednesday . The company traded as low as $6.92 and last traded at $6.9740. 1,213,337 shares were traded during mid-day trading, a decline of 61% from the average session volume of 3,103,750 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMPS. Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Canaccord Genuity Group upped their price target on shares of Compass Pathways from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Compass Point set a $15.00 price objective on shares of Compass Pathways in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their target price on shares of Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, HC Wainwright raised their price target on Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Compass Pathways currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.13.

Compass Pathways Trading Down 7.0%

The firm’s 50 day moving average is $7.00 and its 200 day moving average is $6.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $664.07 million, a PE ratio of -2.55 and a beta of 1.90.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Compass Pathways in the fourth quarter worth $38,000. Advisory Services Network LLC bought a new position in Compass Pathways in the 3rd quarter worth about $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Compass Pathways in the 4th quarter valued at about $47,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Compass Pathways by 46.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after acquiring an additional 5,817 shares during the last quarter. Finally, BIT Capital GmbH purchased a new position in shares of Compass Pathways during the third quarter worth about $54,000. Institutional investors 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.