COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Down 9.1% in October

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,810,000 shares, a decline of 9.1% from the September 30th total of 6,390,000 shares. Based on an average daily trading volume, of 507,200 shares, the days-to-cover ratio is currently 11.5 days.

Analysts Set New Price Targets

CMPS has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of COMPASS Pathways in a report on Friday, August 23rd. Canaccord Genuity Group decreased their target price on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of COMPASS Pathways in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $47.40.

COMPASS Pathways Stock Performance

Shares of CMPS stock traded down $0.03 during trading hours on Wednesday, reaching $6.19. 758,958 shares of the company’s stock were exchanged, compared to its average volume of 554,328. COMPASS Pathways has a fifty-two week low of $5.01 and a fifty-two 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 market capitalization of $423.32 million, a P/E ratio of -2.69 and a beta of 2.26. The business has a fifty day moving average price of $6.72 and a 200-day moving average price of $7.11.

COMPASS Pathways (NASDAQ:CMPS) last released 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 quarter in the previous year, the business posted ($0.62) EPS. Analysts predict that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the stock in a transaction 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 owns 6,905,774 shares in the company, valued at $41,779,932.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Logos Global Management LP raised its stake 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 purchasing an additional 901,050 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in shares of COMPASS Pathways by 86.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock valued at $8,552,000 after buying an additional 477,868 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of COMPASS Pathways by 1,518.4% during the 2nd quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after acquiring an additional 247,500 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of COMPASS Pathways by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 148,134 shares of the company’s stock valued at $933,000 after acquiring an additional 38,145 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its stake in COMPASS Pathways by 13.5% in the second quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock valued at $362,000 after acquiring an additional 7,243 shares during the period. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.