Compass Pathways (NASDAQ:CMPS) Trading 8.5% Higher – Still a Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares were up 8.5% on Thursday . The company traded as high as $11.74 and last traded at $11.7940. Approximately 2,549,103 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 3,589,368 shares. The stock had previously closed at $10.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CMPS shares. Compass Point set a $15.00 target price on Compass Pathways in a research note on Thursday, February 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Compass Pathways in a research note on Monday, April 20th. B. Riley Financial started coverage on Compass Pathways in a research report on Friday, April 24th. They issued a “buy” rating and a $17.00 price objective for the company. Jefferies Financial Group raised Compass Pathways to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Compass Pathways from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.58.

Compass Pathways Stock Up 6.6%

The stock has a market capitalization of $1.56 billion, a PE ratio of -3.68 and a beta of 2.39. The firm has a 50 day moving average of $7.45 and a two-hundred day moving average of $6.83. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.15.

Compass Pathways (NASDAQ:CMPS) last posted its earnings results on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. Equities research analysts anticipate that Compass Pathways PLC Sponsored ADR will post -0.97 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

A number of large investors have recently added to or reduced their stakes in the business. Vivo Capital LLC acquired a new position in Compass Pathways during the first quarter worth about $1,106,000. Bank of America Corp DE grew its position in shares of Compass Pathways by 43.8% in the first quarter. Bank of America Corp DE now owns 32,332 shares of the company’s stock valued at $179,000 after purchasing an additional 9,853 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Compass Pathways by 67.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after purchasing an additional 1,920 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Compass Pathways by 35.0% during the 1st quarter. Royal Bank of Canada now owns 244,526 shares of the company’s stock worth $1,352,000 after purchasing an additional 63,358 shares in the last quarter. Finally, Eagle Health Investments LP raised its position in shares of Compass Pathways by 35.6% during the 1st quarter. Eagle Health Investments LP now owns 2,060,427 shares of the company’s stock worth $11,394,000 after purchasing an additional 541,039 shares during the last quarter. 46.19% of the stock is 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.