COMPASS Pathways plc (NASDAQ:CMPS) Given Consensus Rating of “Buy” by Brokerages

COMPASS Pathways plc (NASDAQ:CMPS) has been given an average rating of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.40.

Several analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of COMPASS Pathways in a report on Tuesday, September 10th. Canaccord Genuity Group dropped their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of COMPASS Pathways in a report on Friday, August 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th.

Insider Activity

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 6,905,774 shares in the company, valued at $41,779,932.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Logos Global Management LP lifted its position in shares of COMPASS Pathways by 349.3% in the second quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock valued at $7,001,000 after acquiring an additional 901,050 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in COMPASS Pathways by 86.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock worth $8,552,000 after buying an additional 477,868 shares in the last quarter. PFM Health Sciences LP lifted its position in COMPASS Pathways by 540.7% during the fourth quarter. PFM Health Sciences LP now owns 338,761 shares of the company’s stock worth $2,964,000 after buying an additional 285,890 shares in the last quarter. Renaissance Technologies LLC lifted its position in COMPASS Pathways by 1,518.4% during the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after buying an additional 247,500 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in COMPASS Pathways during the second quarter worth approximately $664,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Stock Up 5.4 %

COMPASS Pathways stock opened at $6.21 on Friday. The firm has a market cap of $424.65 million, a price-to-earnings ratio of -2.62 and a beta of 2.26. COMPASS Pathways has a 52 week low of $5.01 and a 52 week high of $12.75. The business’s 50-day moving average price is $7.02 and its 200 day moving average price is $7.51. The company has a quick ratio of 12.03, a current ratio of 12.03 and a debt-to-equity ratio of 0.13.

COMPASS Pathways (NASDAQ:CMPS) last posted its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same period in the previous year, the business earned ($0.62) earnings per share. As a group, sell-side analysts anticipate that COMPASS Pathways will post -2.35 earnings per share for the current year.

About COMPASS Pathways

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.