COMPASS Pathways (NASDAQ:CMPS) Sets New 12-Month High – Here’s What Happened

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $7.44 and last traded at $7.3460, with a volume of 465255 shares changing hands. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CMPS. Morgan Stanley upped their price objective on COMPASS Pathways from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of COMPASS Pathways in a research report on Wednesday, October 8th. Finally, BTIG Research upped their price target on COMPASS Pathways from $7.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.88.

COMPASS Pathways Stock Up 4.4%

The business’s fifty day simple moving average is $6.03 and its 200 day simple moving average is $5.22. The stock has a market cap of $706.71 million, a price-to-earnings ratio of -2.72 and a beta of 1.92. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.02. Equities analysts forecast that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors have recently modified their holdings of CMPS. Advisory Services Network LLC acquired a new stake in shares of COMPASS Pathways in the 3rd quarter valued at approximately $41,000. China Universal Asset Management Co. Ltd. grew its holdings in COMPASS Pathways by 46.7% during the second quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after purchasing an additional 5,817 shares during the period. BIT Capital GmbH bought a new stake in COMPASS Pathways in the third quarter valued at approximately $54,000. Conservest Capital Advisors Inc. increased its stake in COMPASS Pathways by 32.5% in the second quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company’s stock valued at $57,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in COMPASS Pathways in the second quarter worth $59,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.