Compass Pathways (NASDAQ:CMPS) Stock Gets Price Target Cut from Wells Fargo & Company

Compass Pathways (NASDAQ:CMPS) had its price target reduced by Wells Fargo & Company from $13.00 to $10.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

CMPS has been the subject of a number of other research reports. Oppenheimer reissued an “outperform” rating and set a $20.00 target price on shares of Compass Pathways in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Compass Pathways in a research report on Wednesday, September 9th. Stifel Nicolaus increased their price target on Compass Pathways from $14.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. HC Wainwright lowered their price objective on Compass Pathways from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Compass Pathways from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Compass Pathways has a consensus rating of “Moderate Buy” and a consensus target price of $23.14.

Compass Pathways Trading Up 10.2%

NASDAQ:CMPS traded up $0.80 on Wednesday, reaching $8.61. 3,757,104 shares of the stock traded hands, compared to its average volume of 3,011,761. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Compass Pathways has a 1-year low of $4.88 and a 1-year high of $15.87. The company’s 50 day moving average is $12.32 and its 200-day moving average is $10.41. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.47 and a beta of 2.43.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.08. Equities research analysts anticipate that Compass Pathways will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Compass Pathways

Several hedge funds and other institutional investors have recently bought and sold shares of CMPS. EverSource Wealth Advisors LLC raised its holdings in shares of Compass Pathways by 67.7% during the first quarter. EverSource Wealth Advisors LLC now owns 4,754 shares of the company’s stock valued at $26,000 after purchasing an additional 1,920 shares during the period. Parallel Advisors LLC increased its position in Compass Pathways by 8,450.6% in 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. Ancora Advisors LLC bought a new stake in Compass Pathways in the 2nd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Compass Pathways in the 3rd quarter valued at about $85,000. Finally, Entropy Technologies LP acquired a new position in Compass Pathways during the 1st quarter worth approximately $110,000. 46.19% of the stock is owned by institutional investors.

Compass Pathways Company Profile

Compass Pathways plc is a biotechnology company developing novel treatments for mental health conditions. The company’s lead investigational product is COMP360, a proprietary formulation of synthetic psilocybin administered with psychological support in a controlled clinical setting.

Compass Pathways has focused primarily on treatment-resistant depression, a condition in which patients do not respond adequately to existing therapies. Its research programs have included mid- and late-stage clinical trials designed to evaluate the safety and effectiveness of COMP360, as well as studies exploring its potential use in other mental health disorders.

Founded in 2016 and headquartered in London, Compass Pathways conducts research and clinical development activities across the United States, the United Kingdom and other international markets.