COMPASS Pathways (NASDAQ:CMPS) Sets New 1-Year High – Here’s Why

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.15 and last traded at $6.89, with a volume of 1577914 shares changing hands. The stock had previously closed at $6.53.

Analysts Set New Price Targets

Several equities research analysts recently commented on CMPS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of COMPASS Pathways in a report on Wednesday, October 8th. BTIG Research lifted their price target on COMPASS Pathways from $7.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Morgan Stanley upped their price objective on COMPASS Pathways from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

COMPASS Pathways Price Performance

The company has a market cap of $661.58 million, a price-to-earnings ratio of -2.53 and a beta of 1.93. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $5.97 and a 200 day moving average price of $5.06.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. As a group, research analysts expect that COMPASS Pathways PLC Sponsored ADR will post -2.33 earnings per share for the current fiscal year.

Institutional Trading of COMPASS Pathways

A number of hedge funds have recently modified their holdings of CMPS. Advisory Services Network LLC purchased a new position in shares of COMPASS Pathways during the third quarter valued at $41,000. China Universal Asset Management Co. Ltd. lifted its stake in COMPASS Pathways by 46.7% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock worth $51,000 after acquiring an additional 5,817 shares in the last quarter. BIT Capital GmbH acquired a new stake in COMPASS Pathways during the 3rd quarter worth about $54,000. Conservest Capital Advisors Inc. grew its stake in COMPASS Pathways by 32.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 20,363 shares of the company’s stock valued at $57,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Northeast Financial Consultants Inc acquired a new position in shares of COMPASS Pathways in the 2nd quarter valued at about $59,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Company Profile

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.