Royal Bank of Canada Has Lowered Expectations for COMPASS Pathways (NASDAQ:CMPS) Stock Price

COMPASS Pathways (NASDAQ:CMPS) had its target price lowered by Royal Bank of Canada from $23.00 to $18.00 in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages have also recently commented on CMPS. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of COMPASS Pathways in a research report on Friday, August 23rd. Finally, Canaccord Genuity Group decreased their price target on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $30.67.

COMPASS Pathways Stock Performance

NASDAQ:CMPS opened at $4.68 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03. The stock has a market capitalization of $320.07 million, a P/E ratio of -2.13 and a beta of 2.29. The company has a 50 day moving average price of $6.54 and a 200 day moving average price of $7.02. COMPASS Pathways has a fifty-two week low of $4.05 and a fifty-two week high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. During the same quarter in the previous year, the firm posted ($0.67) EPS. Equities research analysts forecast that COMPASS Pathways will post -2.35 EPS for the current year.

Insider Transactions at COMPASS Pathways

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways 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 sale, the insider now directly owns 6,905,774 shares in the company, valued at $41,779,932.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.25% of the company’s stock.

Institutional Investors Weigh In On COMPASS Pathways

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rosalind Advisors Inc. raised its stake in COMPASS Pathways by 6.5% during the 3rd quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock worth $4,923,000 after acquiring an additional 47,423 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in COMPASS Pathways by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 148,134 shares of the company’s stock worth $933,000 after acquiring an additional 38,145 shares in the last quarter. Green Alpha Advisors LLC acquired a new stake in COMPASS Pathways during the 3rd quarter worth $99,000. Logos Global Management LP raised its stake in COMPASS Pathways by 349.3% during the 2nd quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock worth $7,001,000 after acquiring an additional 901,050 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in 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 in the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.