Compass Pathways (NASDAQ:CMPS) Shares Down 5.5% – Here’s Why

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) dropped 5.5% on Monday . The stock traded as low as $11.75 and last traded at $11.6750. 2,908,358 shares were traded during trading, a decline of 24% from the average session volume of 3,804,719 shares. The stock had previously closed at $12.35.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMPS. Maxim Group lifted their target price on Compass Pathways from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Compass Pathways from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group set a $18.00 price objective on shares of Compass Pathways in a research report on Thursday, May 7th. Canaccord Genuity Group lifted their price target on shares of Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Compass Pathways in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Compass Pathways presently has a consensus rating of “Moderate Buy” and an average price target of $24.15.

Compass Pathways Stock Performance

The stock’s fifty day moving average price is $12.45 and its two-hundred day moving average price is $8.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32. The company has a market cap of $1.64 billion, a P/E ratio of -3.87 and a beta of 2.47.

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

Institutional Investors Weigh In On Compass Pathways

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Compass Pathways by 49.8% during the 1st quarter. Royal Bank of Canada now owns 89,446 shares of the company’s stock worth $256,000 after purchasing an additional 29,733 shares in the last quarter. Acadian Asset Management LLC boosted its position in Compass Pathways by 42.0% in the first quarter. Acadian Asset Management LLC now owns 240,591 shares of the company’s stock valued at $686,000 after buying an additional 71,112 shares in the last quarter. Nantahala Capital Management LLC grew its stake in shares of Compass Pathways by 47.7% during the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after buying an additional 1,350,698 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Compass Pathways by 38.0% during the second quarter. Balyasny Asset Management L.P. now owns 854,840 shares of the company’s stock worth $2,394,000 after buying an additional 235,345 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new stake in shares of Compass Pathways during the second quarter worth $59,000. 46.19% of the stock is owned by institutional investors.

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.