COMPASS Pathways plc (NASDAQ:CMPS) Receives Average Recommendation of “Buy” from Brokerages

Shares of COMPASS Pathways plc (NASDAQ:CMPS) have earned an average rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $33.60.

Several research firms have commented on CMPS. Royal Bank of Canada dropped their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Maxim Group dropped their price target on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, HC Wainwright reduced their price objective on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

Hedge Funds Weigh In On COMPASS Pathways

A number of large investors have recently modified their holdings of CMPS. Polar Asset Management Partners Inc. increased its holdings in COMPASS Pathways by 83.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 567,600 shares of the company’s stock worth $3,576,000 after acquiring an additional 258,000 shares during the period. Logos Global Management LP grew its position in shares of COMPASS Pathways by 349.3% during the 2nd quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock valued at $7,001,000 after purchasing an additional 901,050 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of COMPASS Pathways by 1,518.4% in the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after purchasing an additional 247,500 shares during the period. Sio Capital Management LLC raised its position in shares of COMPASS Pathways by 211.7% in the third quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock worth $5,762,000 after buying an additional 621,222 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in COMPASS Pathways during the third quarter valued at $2,126,000. 46.19% of the stock is currently owned by institutional investors.

COMPASS Pathways Trading Down 4.5 %

NASDAQ:CMPS opened at $3.37 on Tuesday. The firm’s 50 day moving average is $4.41 and its 200 day moving average is $5.92. COMPASS Pathways has a 12 month low of $3.16 and a 12 month high of $12.75. The stock has a market capitalization of $230.58 million, a PE ratio of -1.53 and a beta of 2.27. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same period in the previous year, the firm posted ($0.67) EPS. Sell-side analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current year.

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.