Compass Pathways (NASDAQ:CMPS) Shares Down 6.9% – Should You Sell?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price dropped 6.9% on Wednesday . The stock traded as low as $7.23 and last traded at $7.4350. Approximately 3,884,665 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 3,112,559 shares. The stock had previously closed at $7.99.

Analyst Upgrades and Downgrades

CMPS has been the subject of a number of research reports. Compass Point set a $15.00 target price on shares of Compass Pathways in a research note on Thursday, February 12th. Morgan Stanley lifted their price objective on Compass Pathways from $11.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Lifesci Capital upgraded Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Canaccord Genuity Group upped their target price on Compass Pathways from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.38.

Compass Pathways Stock Down 5.9%

The business has a 50-day simple moving average of $6.97 and a two-hundred day simple moving average of $6.06. The company has a market cap of $662.54 million, a price-to-earnings ratio of -2.54 and a beta of 1.92. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.55.

Hedge Funds Weigh In On Compass Pathways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC raised its position in shares of Compass Pathways by 3.2% in the fourth quarter. Corient Private Wealth LLC now owns 38,438 shares of the company’s stock valued at $265,000 after purchasing an additional 1,200 shares during the period. CWM LLC grew its stake in Compass Pathways by 19.2% in the 3rd quarter. CWM LLC now owns 15,650 shares of the company’s stock valued at $90,000 after buying an additional 2,525 shares during the last quarter. Conservest Capital Advisors Inc. raised its holdings in Compass Pathways by 24.6% in the 4th quarter. Conservest Capital Advisors Inc. now owns 25,363 shares of the company’s stock worth $175,000 after acquiring an additional 5,000 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Compass Pathways in the fourth quarter valued at about $38,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Compass Pathways by 46.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock worth $51,000 after purchasing an additional 5,817 shares during the period. 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.