Compass Pathways (NASDAQ:CMPS) Upgraded by Wells Fargo & Company to Hold Rating

Compass Pathways (NASDAQ:CMPS) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. B. Riley Financial initiated coverage on shares of Compass Pathways in a research note on Friday, April 24th. They set a “buy” rating and a $17.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Pathways in a research report on Friday, July 17th. Wolfe Research reissued an “outperform” rating on shares of Compass Pathways in a research note on Tuesday, July 7th. Oppenheimer restated an “outperform” rating and issued a $20.00 price target on shares of Compass Pathways in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada lifted their price objective on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.36.

Compass Pathways Trading Up 0.1%

Shares of CMPS opened at $11.27 on Monday. The stock’s fifty day simple moving average is $12.52 and its 200-day simple moving average is $9.06. The firm has a market capitalization of $1.52 billion, a PE ratio of -3.58 and a beta of 2.47. Compass Pathways has a 12-month low of $3.92 and a 12-month high of $15.40. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.

Compass Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.15. As a group, research analysts predict that Compass Pathways will post -1.24 earnings per share for the current year.

Institutional Investors Weigh In On Compass Pathways

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Compass Pathways by 67.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock worth $26,000 after purchasing an additional 1,920 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Compass Pathways in the 4th quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Compass Pathways during the 4th quarter worth $47,000. Advisory Services Network LLC acquired a new stake in Compass Pathways during the 3rd quarter worth $41,000. Finally, Parallel Advisors LLC lifted its holdings in Compass Pathways by 8,450.6% during the first quarter. Parallel Advisors LLC now owns 7,268 shares of the company’s stock worth $40,000 after acquiring an additional 7,183 shares in the last quarter. Institutional investors 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.