COMPASS Pathways (NASDAQ:CMPS) Price Target Raised to $11.00

COMPASS Pathways (NASDAQ:CMPS) had its target price raised by analysts at Morgan Stanley from $10.00 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 87.65% from the company’s previous close.

CMPS has been the subject of several other reports. BTIG Research boosted their price objective on shares of COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price objective on shares of COMPASS Pathways in a research note on Friday, August 1st. HC Wainwright decreased their price objective on shares of COMPASS Pathways from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of COMPASS Pathways in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.88.

COMPASS Pathways Trading Down 11.6%

CMPS stock traded down $0.77 on Wednesday, hitting $5.86. 2,514,205 shares of the company were exchanged, compared to its average volume of 1,822,803. COMPASS Pathways has a twelve month low of $2.25 and a twelve month high of $7.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.82 and a quick ratio of 8.82. The business’s fifty day moving average is $5.74 and its two-hundred day moving average is $4.65. The stock has a market capitalization of $562.40 million, a price-to-earnings ratio of -3.17 and a beta of 2.22.

Institutional Trading of COMPASS Pathways

Several hedge funds have recently bought and sold shares of CMPS. Nantahala Capital Management LLC lifted its position in COMPASS Pathways by 182.9% in the 1st quarter. Nantahala Capital Management LLC now owns 2,829,232 shares of the company’s stock valued at $8,092,000 after purchasing an additional 1,829,232 shares during the last quarter. Vivo Capital LLC lifted its position in COMPASS Pathways by 109.1% in the 1st quarter. Vivo Capital LLC now owns 3,362,385 shares of the company’s stock valued at $9,616,000 after purchasing an additional 1,754,385 shares during the last quarter. Woodline Partners LP lifted its position in COMPASS Pathways by 279.9% in the 1st quarter. Woodline Partners LP now owns 1,754,856 shares of the company’s stock valued at $5,019,000 after purchasing an additional 1,292,927 shares during the last quarter. Hsbc Holdings PLC bought a new stake in COMPASS Pathways in the 2nd quarter valued at about $3,011,000. Finally, Driehaus Capital Management LLC bought a new stake in COMPASS Pathways in the 1st quarter valued at about $2,007,000. 46.19% of the stock is currently 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.