Compass Pathways (NASDAQ:CMPS) Shares Up 9.6% After Earnings Beat

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price rose 9.6% on Wednesday following a stronger than expected earnings report. The stock traded as high as $10.20 and last traded at $10.2670. Approximately 968,656 shares were traded during trading, a decline of 72% from the average daily volume of 3,459,504 shares. The stock had previously closed at $9.37.

The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.15.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price objective on Compass Pathways from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Compass Point set a $15.00 price objective on shares of Compass Pathways in a research report on Thursday, February 12th. Jefferies Financial Group raised shares of Compass Pathways to a “strong-buy” rating in a research report on Tuesday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Compass Pathways in a research note on Tuesday, April 28th. Finally, B. Riley Financial started coverage on Compass Pathways in a research report on Friday, April 24th. They issued a “buy” rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Hedge Funds Weigh In On Compass Pathways

Hedge funds have recently bought and sold shares of the company. Persistent Asset Partners Ltd bought a new position in shares of Compass Pathways during the 4th quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Compass Pathways in the fourth quarter worth approximately $47,000. Advisory Services Network LLC bought a new stake in shares of Compass Pathways during the 3rd quarter valued at $41,000. Parallel Advisors LLC lifted its stake in shares of Compass Pathways by 8,450.6% during the 1st quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock valued at $40,000 after buying an additional 7,183 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in Compass Pathways by 1,354.0% in the 1st quarter. North Star Investment Management Corp. now owns 7,517 shares of the company’s stock worth $42,000 after buying an additional 7,000 shares during the period. Institutional investors own 46.19% of the company’s stock.

Compass Pathways Price Performance

The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $6.65. The firm has a market cap of $1.32 billion, a PE ratio of -3.32 and a beta of 2.39.

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.