COMPASS Pathways (NASDAQ:CMPS) Now Covered by Royal Bank of Canada

Analysts at Royal Bank of Canada began coverage on shares of COMPASS Pathways (NASDAQ:CMPS) in a research note issued on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $23.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 231.41% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a research report on Friday, June 21st. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of COMPASS Pathways in a research report on Monday, May 13th. Finally, Morgan Stanley initiated coverage on shares of COMPASS Pathways in a research report on Monday, April 1st. They issued an “overweight” rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, COMPASS Pathways has an average rating of “Buy” and an average price target of $43.33.

COMPASS Pathways Stock Performance

NASDAQ:CMPS opened at $6.94 on Tuesday. The company has a quick ratio of 15.23, a current ratio of 15.23 and a debt-to-equity ratio of 0.12. The company has a market cap of $474.56 million, a P/E ratio of -2.93 and a beta of 2.27. COMPASS Pathways has a fifty-two week low of $5.01 and a fifty-two week high of $12.75. The firm’s 50 day moving average is $6.93 and its two-hundred day moving average is $8.66.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.03). Analysts expect that COMPASS Pathways will post -2.24 EPS for the current year.

Insider Buying and Selling at COMPASS Pathways

In other COMPASS Pathways news, major shareholder George Jay Goldsmith sold 9,621 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $8.29, for a total transaction of $79,758.09. Following the transaction, the insider now directly owns 3,966,052 shares in the company, valued at approximately $32,878,571.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in COMPASS Pathways during the 4th quarter valued at $33,000. Blue Trust Inc. bought a new position in shares of COMPASS Pathways in the 2nd quarter worth about $81,000. Conservest Capital Advisors Inc. bought a new position in shares of COMPASS Pathways in the 4th quarter worth about $91,000. EWA LLC bought a new position in shares of COMPASS Pathways in the 4th quarter worth about $107,000. Finally, Kennedy Capital Management LLC bought a new position in shares of COMPASS Pathways in the 1st quarter worth about $139,000. 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.