Compass Pathways (NASDAQ:CMPS) Sets New 12-Month High – Should You Buy?

Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s share price reached a new 52-week high on Tuesday . The company traded as high as $8.80 and last traded at $7.7150, with a volume of 9893874 shares trading hands. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

CMPS has been the topic of several analyst reports. Morgan Stanley increased their price objective on shares of Compass Pathways from $11.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday. 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 report on Wednesday. Royal Bank Of Canada increased their price target on Compass Pathways from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research report on Wednesday, January 21st. Finally, Compass Point set a $15.00 target price on shares of Compass Pathways in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.56.

Compass Pathways Stock Performance

The stock has a market capitalization of $746.17 million, a P/E ratio of -2.89 and a beta of 1.92. The stock’s 50-day simple moving average is $6.80 and its 200 day simple moving average is $5.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.23 and a quick ratio of 1.23.

Institutional Investors Weigh In On Compass Pathways

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Compass Pathways by 49.8% during the first quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock worth $256,000 after acquiring an additional 29,733 shares during the period. Acadian Asset Management LLC lifted its holdings in Compass Pathways by 42.0% during the 1st quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock worth $686,000 after purchasing an additional 71,112 shares during the last quarter. Conservest Capital Advisors Inc. boosted its stake in Compass Pathways by 32.5% in the 2nd quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company’s stock valued at $57,000 after purchasing an additional 5,000 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Compass Pathways by 67.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,842 shares of the company’s stock valued at $67,000 after buying an additional 9,569 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Compass Pathways by 95.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 28,171 shares of the company’s stock worth $79,000 after buying an additional 13,725 shares during the period. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.