COMPASS Pathways (NASDAQ:CMPS) Price Target Cut to $60.00 by Analysts at HC Wainwright

COMPASS Pathways (NASDAQ:CMPS) had its price target cut by HC Wainwright from $120.00 to $60.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on CMPS. Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Royal Bank of Canada dropped their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday. Maxim Group dropped their target price on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group reduced their target price on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $30.67.

COMPASS Pathways Trading Down 0.2 %

CMPS traded down $0.01 on Friday, reaching $4.75. 2,081,860 shares of the company’s stock were exchanged, compared to its average volume of 589,220. The company’s 50 day moving average is $6.61 and its 200-day moving average is $7.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03. COMPASS Pathways has a twelve month low of $4.05 and a twelve month high of $12.75. The company has a market cap of $324.85 million, a price-to-earnings ratio of -2.06 and a beta of 2.26.

COMPASS Pathways (NASDAQ:CMPS) last announced 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 in the prior year, the business earned ($0.62) earnings per share. Equities analysts predict that COMPASS Pathways will post -2.35 earnings per share for the current year.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’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 sale, the insider now owns 6,905,774 shares in the company, valued at $41,779,932.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMPS. Blue Trust Inc. purchased a new stake in shares of COMPASS Pathways in the second quarter worth $81,000. Green Alpha Advisors LLC purchased a new stake in shares of COMPASS Pathways in the 3rd quarter valued at about $99,000. Kennedy Capital Management LLC purchased a new position in shares of COMPASS Pathways during the first quarter worth about $139,000. Tidal Investments LLC increased its position in shares of COMPASS Pathways by 43.6% in 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 last quarter. Finally, Chesapeake Capital Corp IL purchased a new stake in COMPASS Pathways in the first quarter valued at approximately $189,000. 46.19% of the stock is owned by institutional investors.

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.