Compass Pathways (NASDAQ:CMPS) Sees Strong Trading Volume – Time to Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) saw strong trading volume on Thursday . 7,108,036 shares changed hands during trading, an increase of 155% from the previous session’s volume of 2,787,246 shares.The stock last traded at $7.9980 and had previously closed at $8.45.

Wall Street Analyst Weigh In

CMPS has been the topic of several research reports. Lifesci Capital raised Compass Pathways to a “strong-buy” rating in a report on Thursday, February 12th. Morgan Stanley increased their target price on Compass Pathways from $11.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group lifted their price target on shares of Compass Pathways from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. Finally, Compass Point set a $15.00 price objective on Compass Pathways in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.56.

Compass Pathways Price Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $772.96 million, a P/E ratio of -2.96 and a beta of 1.92. The business’s fifty day moving average is $6.85 and its 200 day moving average is $5.95.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC boosted its holdings in shares of Compass Pathways by 3.2% during the 4th quarter. Corient Private Wealth LLC now owns 38,438 shares of the company’s stock worth $265,000 after buying an additional 1,200 shares during the period. CWM LLC lifted its position in Compass Pathways by 19.2% in the third quarter. CWM LLC now owns 15,650 shares of the company’s stock worth $90,000 after purchasing an additional 2,525 shares during the period. 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 acquiring an additional 5,000 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Compass Pathways in the 4th quarter worth approximately $38,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 5,817 shares in the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.