Renaissance Technologies LLC Grows Stake in COMPASS Pathways plc (NASDAQ:CMPS)

Renaissance Technologies LLC boosted its holdings in shares of COMPASS Pathways plc (NASDAQ:CMPS) by 1,518.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,800 shares of the company’s stock after purchasing an additional 247,500 shares during the period. Renaissance Technologies LLC owned about 0.39% of COMPASS Pathways worth $1,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Fore Capital LLC purchased a new stake in COMPASS Pathways in the 2nd quarter valued at $181,000. AdvisorShares Investments LLC increased its stake in shares of 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 acquiring an additional 7,243 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in COMPASS Pathways during the second quarter worth about $664,000. Blue Trust Inc. acquired a new position in COMPASS Pathways during the second quarter worth $81,000. Finally, Virtu Financial LLC purchased a new position in COMPASS Pathways in the first quarter worth $201,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CMPS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of COMPASS Pathways in a report on Friday, August 23rd. Canaccord Genuity Group cut their price target on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of COMPASS Pathways in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $47.40.

Insider Buying and Selling at COMPASS Pathways

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’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 sale, the insider now directly owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.25% of the stock is currently owned by insiders.

COMPASS Pathways Stock Performance

COMPASS Pathways stock opened at $5.89 on Friday. The company has a current ratio of 12.03, a quick ratio of 12.03 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $7.06 and a 200-day moving average of $7.53. The stock has a market cap of $402.76 million, a P/E ratio of -2.49 and a beta of 2.26. COMPASS Pathways plc has a 52 week low of $5.01 and a 52 week high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same quarter last year, the business posted ($0.62) EPS. On average, analysts expect that COMPASS Pathways plc will post -2.35 EPS for the current fiscal year.

COMPASS Pathways 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.