Compass Pathways (NASDAQ:CMPS) Trading Down 6.3% – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price dropped 6.3% during trading on Wednesday . The stock traded as low as $6.92 and last traded at $6.9740. Approximately 1,213,337 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,103,750 shares. The stock had previously closed at $7.44.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. HC Wainwright lifted their target price on Compass Pathways from $40.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Compass Point set a $15.00 price objective on Compass Pathways in a research note on Thursday, February 12th. Morgan Stanley increased their target price on shares of Compass Pathways from $11.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Lifesci Capital raised shares of Compass Pathways to a “strong-buy” rating in a research report on Thursday, February 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.13.

Compass Pathways Stock Down 7.0%

The stock has a 50 day moving average price of $7.00 and a 200 day moving average price of $6.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $664.07 million, a P/E ratio of -2.55 and a beta of 1.90.

Institutional Trading of Compass Pathways

Several hedge funds have recently added to or reduced their stakes in CMPS. Persistent Asset Partners Ltd bought a new position in shares of Compass Pathways during the 4th quarter valued at approximately $38,000. Advisory Services Network LLC purchased a new stake in Compass Pathways in the third quarter worth $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Compass Pathways in the fourth quarter valued at $47,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Compass Pathways by 46.7% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after buying an additional 5,817 shares during the last quarter. Finally, BIT Capital GmbH bought a new position in shares of Compass Pathways during the 3rd quarter worth $54,000. Institutional investors own 46.19% of the company’s stock.

About Compass Pathways

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.