ARK Investment Management LLC Buys 471,897 Shares of Compass Pathways PLC Sponsored ADR $CMPS

ARK Investment Management LLC lifted its stake in Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) by 28.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,121,118 shares of the company’s stock after buying an additional 471,897 shares during the quarter. ARK Investment Management LLC’s holdings in Compass Pathways were worth $12,154,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Compass Pathways by 46.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock worth $51,000 after purchasing an additional 5,817 shares during the last quarter. BIT Capital GmbH bought a new position in Compass Pathways during the 3rd quarter valued at about $54,000. Northeast Financial Consultants Inc purchased a new stake in shares of Compass Pathways during the 2nd quarter valued at about $59,000. CWM LLC grew its stake in shares of Compass Pathways by 19.2% in the third quarter. CWM LLC now owns 15,650 shares of the company’s stock worth $90,000 after acquiring an additional 2,525 shares during the period. Finally, Zhang Financial LLC purchased a new position in shares of Compass Pathways during the third quarter valued at approximately $109,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

Compass Pathways Stock Up 1.4%

CMPS stock opened at $7.05 on Thursday. The business’s 50-day moving average price is $6.99 and its 200-day moving average price is $6.12. The stock has a market cap of $676.94 million, a P/E ratio of -2.59 and a beta of 1.90. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55. Compass Pathways PLC Sponsored ADR has a twelve month low of $2.25 and a twelve month high of $8.90.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a research note on Wednesday, January 21st. Morgan Stanley lifted their price objective on Compass Pathways from $11.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Royal Bank Of Canada raised their target price on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Compass Pathways presently has an average rating of “Moderate Buy” and an average price target of $22.13.

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.