COMPASS Pathways plc (NASDAQ:CMPS) Receives Average Rating of “Buy” from Analysts

Shares of COMPASS Pathways plc (NASDAQ:CMPS) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $33.60.

Several equities analysts recently weighed in on the company. HC Wainwright cut their price objective on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Maxim Group lowered their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Finally, Royal Bank of Canada dropped their price objective 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.

COMPASS Pathways Stock Performance

CMPS stock opened at $3.92 on Friday. The company has a quick ratio of 8.91, a current ratio of 8.91 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $268.21 million, a price-to-earnings ratio of -1.78 and a beta of 2.24. COMPASS Pathways has a 12 month low of $3.86 and a 12 month high of $12.75. The firm has a 50 day moving average of $5.07 and a two-hundred day moving average of $6.24.

COMPASS Pathways (NASDAQ:CMPS) last issued 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 last year, the firm earned ($0.67) earnings per share. As a group, equities analysts anticipate that COMPASS Pathways will post -2.33 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 that occurred 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 directly owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. This represents a 27.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CMPS. Blue Trust Inc. bought a new stake in shares of COMPASS Pathways in the 2nd quarter worth about $81,000. Green Alpha Advisors LLC bought a new stake in COMPASS Pathways during the third quarter worth about $99,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of COMPASS Pathways during the third quarter worth approximately $131,000. Fore Capital LLC bought a new position in shares of COMPASS Pathways in the second quarter valued at approximately $181,000. Finally, Geode Capital Management LLC boosted its holdings in shares of COMPASS Pathways by 160.3% in the 3rd quarter. Geode Capital Management LLC now owns 42,169 shares of the company’s stock worth $266,000 after acquiring an additional 25,970 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.