Compass Pathways (NASDAQ:CMPS) Trading Up 8.8% – What’s Next?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price was up 8.8% during trading on Tuesday . The stock traded as high as $7.45 and last traded at $7.4610. Approximately 1,912,238 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 3,097,420 shares. The stock had previously closed at $6.86.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMPS. Royal Bank Of Canada boosted their price objective on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. HC Wainwright increased their price objective on Compass Pathways from $40.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Canaccord Genuity Group boosted their target price on shares of Compass Pathways from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Finally, Morgan Stanley increased their target price on shares of Compass Pathways from $11.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.13.

Compass Pathways Stock Performance

The stock has a market capitalization of $640.43 million, a price-to-earnings ratio of -2.45 and a beta of 1.90. The company’s 50-day simple moving average is $7.00 and its 200-day simple moving average is $6.22. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Compass Pathways by 49.8% during the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock worth $256,000 after buying an additional 29,733 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Compass Pathways by 42.0% in the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock worth $686,000 after buying an additional 71,112 shares during the period. Bridger Management LLC bought a new position in shares of Compass Pathways in the second quarter worth $412,000. XTX Topco Ltd purchased a new position in Compass Pathways during the 2nd quarter valued at about $220,000. Finally, Hsbc Holdings PLC purchased a new stake in Compass Pathways in the 2nd quarter worth approximately $3,011,000. 46.19% of the stock is owned by institutional investors.

Compass Pathways Company Profile

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.