Brokerages Set COMPASS Pathways plc (NASDAQ:CMPS) Price Target at $47.40

COMPASS Pathways plc (NASDAQ:CMPS) has earned a consensus rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued a report on the stock in the last year is $47.40.

CMPS has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of COMPASS Pathways in a report on Tuesday, September 10th. Canaccord Genuity Group decreased their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 price objective on shares of COMPASS Pathways in a research report on Friday, August 23rd.

Insider Transactions at COMPASS Pathways

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the transaction, the insider now directly owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CMPS. Logos Global Management LP increased its stake in shares of COMPASS Pathways by 349.3% during the second quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock worth $7,001,000 after purchasing an additional 901,050 shares during the period. Affinity Asset Advisors LLC increased its position in COMPASS Pathways by 86.9% during the 1st 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 during the period. PFM Health Sciences LP lifted its holdings in shares of 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 boosted its position in shares of COMPASS Pathways by 1,518.4% in the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock valued at $1,593,000 after acquiring an additional 247,500 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of COMPASS Pathways in the second quarter valued at about $664,000. 46.19% of the stock is owned by institutional investors and hedge funds.

COMPASS Pathways Stock Performance

Shares of CMPS opened at $6.05 on Friday. The company has a market capitalization of $413.71 million, a price-to-earnings ratio of -2.55 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 company has a quick ratio of 12.03, a current ratio of 12.03 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $6.90 and a 200 day moving average price of $7.41.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same period in the prior year, the firm earned ($0.62) EPS. Research analysts predict that COMPASS Pathways will post -2.35 EPS for the current fiscal 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.