Simplify Asset Management Inc. Takes Position in COMPASS Pathways PLC Sponsored ADR $CMPS

Simplify Asset Management Inc. purchased a new stake in COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 290,000 shares of the company’s stock, valued at approximately $1,662,000.

A number of other institutional investors have also recently added to or reduced their stakes in CMPS. China Universal Asset Management Co. Ltd. grew its holdings in COMPASS Pathways by 46.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after buying an additional 5,817 shares in the last quarter. Conservest Capital Advisors Inc. raised its holdings in shares of COMPASS Pathways by 32.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company’s stock worth $57,000 after acquiring an additional 5,000 shares during the period. Northeast Financial Consultants Inc acquired a new position in shares of COMPASS Pathways during the 2nd quarter valued at about $59,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of COMPASS Pathways by 67.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,842 shares of the company’s stock valued at $67,000 after purchasing an additional 9,569 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in COMPASS Pathways by 95.0% during the second quarter. Flagship Harbor Advisors LLC now owns 28,171 shares of the company’s stock worth $79,000 after purchasing an additional 13,725 shares during the last quarter. Hedge funds and other institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Trading Up 0.7%

Shares of CMPS stock opened at $6.73 on Tuesday. COMPASS Pathways PLC Sponsored ADR has a 1-year low of $2.25 and a 1-year high of $7.15. The firm has a market cap of $646.21 million, a PE ratio of -2.47 and a beta of 1.93. The company has a 50-day moving average of $5.98 and a two-hundred day moving average of $5.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. On average, analysts predict that COMPASS Pathways PLC Sponsored ADR will post -2.33 EPS for the current year.

Wall Street Analyst Weigh In

CMPS has been the topic of several recent analyst reports. BTIG Research boosted their target price on shares of COMPASS Pathways from $7.00 to $14.00 and gave the company a “buy” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday, October 8th. Finally, Morgan Stanley increased their price objective on COMPASS Pathways from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.88.

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.