COMPASS Pathways plc (NASDAQ:CMPS) Sees Significant Drop in Short Interest

COMPASS Pathways plc (NASDAQ:CMPS) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 3,850,000 shares, a decline of 7.7% from the November 15th total of 4,170,000 shares. Based on an average daily trading volume, of 849,700 shares, the days-to-cover ratio is presently 4.5 days.

COMPASS Pathways Price Performance

CMPS opened at $4.20 on Wednesday. The company has a 50 day moving average of $5.15 and a two-hundred day moving average of $6.28. The company has a quick ratio of 8.91, a current ratio of 8.91 and a debt-to-equity ratio of 0.15. COMPASS Pathways has a 52-week low of $4.00 and a 52-week high of $12.75. The company has a market cap of $287.37 million, a P/E ratio of -1.91 and a beta of 2.24.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results 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 period in the previous year, the firm posted ($0.67) earnings per share. On average, analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current year.

Insider Buying and Selling at COMPASS Pathways

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. This represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMPS. Logos Global Management LP grew its position 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 buying an additional 901,050 shares in the last quarter. Sio Capital Management LLC increased its position in COMPASS Pathways by 211.7% in the third quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock worth $5,762,000 after buying an additional 621,222 shares during the period. Acuta Capital Partners LLC acquired a new stake in shares of COMPASS Pathways in the 3rd quarter worth about $2,435,000. Walleye Capital LLC acquired a new stake in shares of COMPASS Pathways in the third quarter valued at approximately $2,126,000. Finally, Polar Asset Management Partners Inc. increased its position in COMPASS Pathways by 83.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 567,600 shares of the company’s stock valued at $3,576,000 after acquiring an additional 258,000 shares during the period. Institutional investors and hedge funds own 46.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CMPS shares. Royal Bank of Canada dropped their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. HC Wainwright reduced their price target on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Maxim Group decreased their price target on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $33.60.

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.