COMPASS Pathways (NASDAQ:CMPS) Stock Price Down 9.8% – Here’s What Happened

COMPASS Pathways PLC Sponsored ADR (NASDAQ:CMPS)’s stock price traded down 9.8% during trading on Wednesday . The stock traded as low as $5.99 and last traded at $5.9830. 447,068 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,812,489 shares. The stock had previously closed at $6.63.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of COMPASS Pathways in a research note on Wednesday, October 8th. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price target on shares of COMPASS Pathways in a research note on Friday, August 1st. BTIG Research boosted their price target on shares of COMPASS Pathways from $7.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, HC Wainwright dropped their price target on shares of COMPASS Pathways from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, COMPASS Pathways has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

COMPASS Pathways Trading Down 12.3%

The stock has a market capitalization of $558.08 million, a PE ratio of -3.17 and a beta of 2.22. The company has a quick ratio of 8.82, a current ratio of 8.82 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average is $5.74 and its two-hundred day moving average is $4.65.

Institutional Trading of COMPASS Pathways

Several large investors have recently modified their holdings of CMPS. Cerity Partners LLC acquired a new stake in shares of COMPASS Pathways in the first quarter valued at approximately $29,000. GAMMA Investing LLC grew its position in shares of COMPASS Pathways by 93.6% in the first quarter. GAMMA Investing LLC now owns 10,349 shares of the company’s stock valued at $30,000 after purchasing an additional 5,003 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in shares of COMPASS Pathways in the first quarter valued at approximately $35,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of COMPASS Pathways in the first quarter valued at approximately $41,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of COMPASS Pathways by 46.7% in the second quarter. China Universal Asset Management Co. Ltd. now owns 18,272 shares of the company’s stock valued at $51,000 after purchasing an additional 5,817 shares during the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

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.