Analysts Set COMPASS Pathways plc (NASDAQ:CMPS) PT at $30.67

COMPASS Pathways plc (NASDAQ:CMPS) has earned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.67.

CMPS has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada cut their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Maxim Group cut their target price on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Finally, HC Wainwright cut their target price on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 1st.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $6.05, for a total value of $16,093,000.00. Following the completion of the transaction, the insider now directly owns 6,905,774 shares of the company’s stock, valued at $41,779,932.70. This represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its stake in shares of COMPASS Pathways by 4.4% during the third quarter. Franklin Resources Inc. now owns 295,785 shares of the company’s stock valued at $1,810,000 after purchasing an additional 12,599 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of COMPASS Pathways by 160.3% during the third quarter. Geode Capital Management LLC now owns 42,169 shares of the company’s stock valued at $266,000 after purchasing an additional 25,970 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of COMPASS Pathways during the third quarter valued at approximately $131,000. Point72 Asset Management L.P. bought a new position in shares of COMPASS Pathways during the third quarter valued at approximately $371,000. Finally, Polar Asset Management Partners Inc. increased its stake in shares of COMPASS Pathways by 83.3% during the third quarter. Polar Asset Management Partners Inc. now owns 567,600 shares of the company’s stock valued at $3,576,000 after purchasing an additional 258,000 shares in the last quarter. 46.19% of the stock is owned by institutional investors.

COMPASS Pathways Trading Up 0.9 %

Shares of CMPS stock opened at $4.56 on Monday. The company’s fifty day simple moving average is $5.74 and its two-hundred day simple moving average is $6.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. COMPASS Pathways has a 1 year low of $4.05 and a 1 year high of $12.75. The stock has a market capitalization of $312.00 million, a price-to-earnings ratio of -2.07 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last issued its earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same quarter in the prior year, the firm posted ($0.67) EPS. As a group, analysts anticipate that COMPASS Pathways will post -2.33 earnings per share for the current year.

COMPASS Pathways Company Profile

COMPASS Pathways plc operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that is in Phase III clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder and anorexia nervosa.