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

Ikarian Capital LLC cut its position in COMPASS Pathways plc (NASDAQ:CMPS) by 33.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,908 shares of the company’s stock after selling 100,000 shares during the quarter. Ikarian Capital LLC’s holdings in COMPASS Pathways were worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC boosted its position in COMPASS Pathways by 43.6% during the first quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after purchasing an additional 5,795 shares during the period. Virtu Financial LLC bought a new position in COMPASS Pathways during the first quarter worth $201,000. Blue Trust Inc. bought a new position in COMPASS Pathways during the second quarter worth $81,000. Hennion & Walsh Asset Management Inc. bought a new position in COMPASS Pathways during the second quarter worth $664,000. Finally, AdvisorShares Investments LLC boosted its position in COMPASS Pathways by 13.5% during the second quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock worth $362,000 after purchasing an additional 7,243 shares during the period. 46.19% of the stock is owned by institutional investors.

COMPASS Pathways Price Performance

CMPS stock traded down $0.05 during midday trading on Tuesday, reaching $4.44. The company had a trading volume of 51,147 shares, compared to its average volume of 628,719. The stock has a 50 day moving average price of $5.63 and a 200-day moving average price of $6.55. COMPASS Pathways plc has a 1-year low of $4.05 and a 1-year high of $12.75. 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 (NASDAQ:CMPS) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same period last year, the company posted ($0.67) earnings per share. Equities research analysts anticipate that COMPASS Pathways plc will post -2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMPS. Maxim Group reduced their target price on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 1st. HC Wainwright reduced their target price on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada reduced their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $30.67.

Insiders Place Their Bets

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the completion of the transaction, the insider now owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. The trade was a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.25% 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.