Ikarian Capital LLC Sells 100,000 Shares of COMPASS Pathways plc (NASDAQ:CMPS)

Ikarian Capital LLC lessened its holdings in COMPASS Pathways plc (NASDAQ:CMPS) by 33.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 202,908 shares of the company’s stock after selling 100,000 shares during the quarter. Ikarian Capital LLC owned approximately 0.30% of COMPASS Pathways worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMPS. Logos Global Management LP raised its position in shares of COMPASS Pathways by 349.3% in the 2nd 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 during the period. Sio Capital Management LLC raised its position in shares of COMPASS Pathways by 211.7% in the 3rd quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock valued at $5,762,000 after acquiring an additional 621,222 shares during the period. Rosalind Advisors Inc. raised its position in shares of COMPASS Pathways by 6.5% in the 3rd quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock valued at $4,923,000 after acquiring an additional 47,423 shares during the period. Acuta Capital Partners LLC acquired a new stake in shares of COMPASS Pathways in the 3rd quarter valued at approximately $2,435,000. Finally, Walleye Capital LLC acquired a new stake in shares of COMPASS Pathways in the 3rd quarter valued at approximately $2,126,000. Institutional investors own 46.19% of the company’s stock.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were 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 directly owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. This trade represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.25% of the stock is owned by corporate insiders.

COMPASS Pathways Stock Down 1.1 %

Shares of NASDAQ CMPS traded down $0.05 during midday trading on Tuesday, reaching $4.44. The company’s stock had a trading volume of 51,147 shares, compared to its average volume of 628,719. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. COMPASS Pathways plc has a fifty-two week low of $4.05 and a fifty-two week high of $12.75. The stock has a 50 day simple moving average of $5.63 and a 200-day simple moving average of $6.55.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same quarter last year, the company earned ($0.67) earnings per share. As a group, equities analysts expect that COMPASS Pathways plc will post -2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CMPS shares. Maxim Group cut their price target on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada dropped their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. HC Wainwright dropped their target price on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, COMPASS Pathways has a consensus rating of “Buy” and an average target price of $30.67.

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.