COMPASS Pathways plc (NASDAQ:CMPS) Given Consensus Recommendation of “Buy” by Analysts

Shares of COMPASS Pathways plc (NASDAQ:CMPS) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $30.67.

CMPS has been the topic of a number of research reports. Royal Bank of Canada cut their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday. Canaccord Genuity Group cut their price target on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. HC Wainwright decreased their price objective on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Maxim Group dropped their target price on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th.

Insider Activity at COMPASS Pathways

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the transaction, the insider now owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors have recently made changes to their positions in CMPS. Logos Global Management LP raised its stake 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 worth $7,001,000 after buying an additional 901,050 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of COMPASS Pathways by 1,518.4% during the 2nd quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock valued at $1,593,000 after purchasing an additional 247,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of COMPASS Pathways in the 2nd quarter worth approximately $664,000. Tidal Investments LLC raised 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 bought a new stake in shares of COMPASS Pathways in the 1st quarter worth approximately $201,000. 46.19% of the stock is owned by institutional investors.

COMPASS Pathways Stock Down 1.5 %

Shares of COMPASS Pathways stock opened at $4.68 on Thursday. COMPASS Pathways has a 1 year low of $4.05 and a 1 year high of $12.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.03 and a quick ratio of 12.03. The stock has a market cap of $320.07 million, a price-to-earnings ratio of -2.13 and a beta of 2.29. The firm’s 50-day moving average is $6.54 and its two-hundred day moving average is $7.02.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.04. During the same quarter in the previous year, the business earned ($0.67) EPS. As a group, research analysts expect that COMPASS Pathways will post -2.35 earnings per share for the current fiscal year.

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.