Analysts Set COMPASS Pathways plc (NASDAQ:CMPS) Price Target at $30.67

Shares of COMPASS Pathways plc (NASDAQ:CMPS) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $30.67.

A number of brokerages have recently commented on CMPS. HC Wainwright cut 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. Royal Bank of Canada cut their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Maxim Group decreased their price target 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th.

COMPASS Pathways Price Performance

CMPS stock opened at $4.59 on Monday. The stock has a market cap of $314.05 million, a price-to-earnings ratio of -2.09 and a beta of 2.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. The company has a 50 day simple moving average of $5.63 and a 200 day simple moving average of $6.55. COMPASS Pathways has a 1 year low of $4.05 and a 1 year high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last announced 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 in the prior year, the firm earned ($0.67) earnings per share. Research analysts anticipate that COMPASS Pathways will post -2.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 6,905,774 shares of the company’s stock, valued at $41,779,932.70. This trade represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.25% of the stock is owned by insiders.

Hedge Funds Weigh In On COMPASS Pathways

A number of institutional investors and hedge funds have recently modified their holdings of the business. Logos Global Management LP increased its position in 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 buying an additional 901,050 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of COMPASS Pathways by 1,518.4% during the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock valued at $1,593,000 after acquiring an additional 247,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of COMPASS Pathways during the second quarter worth approximately $664,000. Tidal Investments LLC lifted its holdings in shares of COMPASS Pathways by 43.6% in the 1st quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after purchasing an additional 5,795 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in COMPASS Pathways in the 1st quarter valued at $201,000. 46.19% of the stock is currently owned by institutional investors.

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.