Compass Pathways (NASDAQ:CMPS) Posts Quarterly Earnings Results, Misses Expectations By $0.61 EPS

Compass Pathways (NASDAQ:CMPS) announced its quarterly earnings data on Tuesday. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.61), FiscalAI reports.

Compass Pathways Stock Down 1.3%

CMPS opened at $5.34 on Tuesday. The company has a fifty day moving average of $6.82 and a two-hundred day moving average of $6.30. The stock has a market capitalization of $512.73 million, a price-to-earnings ratio of -1.96 and a beta of 1.90. Compass Pathways has a fifty-two week low of $2.25 and a fifty-two week high of $8.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMPS. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a research note on Wednesday, January 21st. Compass Point set a $15.00 price objective on Compass Pathways in a report on Thursday, February 12th. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Royal Bank Of Canada lifted their target price on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Finally, HC Wainwright upped 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.13.

Institutional Investors Weigh In On Compass Pathways

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in Compass Pathways by 49.8% in the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock worth $256,000 after purchasing an additional 29,733 shares during the period. Acadian Asset Management LLC grew its holdings in Compass Pathways by 42.0% in the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock valued at $686,000 after purchasing an additional 71,112 shares during the period. Nantahala Capital Management LLC increased its position in shares of Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after buying an additional 1,350,698 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Compass Pathways by 38.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock worth $2,394,000 after buying an additional 235,345 shares during the period. Finally, Northeast Financial Consultants Inc acquired a new position in shares of Compass Pathways during the 2nd quarter worth approximately $59,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

Compass Pathways Company Profile

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.