COMPASS Pathways (NASDAQ:CMPS) Price Target Lowered to $12.00 at Maxim Group

COMPASS Pathways (NASDAQ:CMPS) had its price objective reduced by Maxim Group from $22.00 to $12.00 in a research note issued to investors on Friday morning, Benzinga reports. Maxim Group currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday. Canaccord Genuity Group dropped their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of COMPASS Pathways in a report on Friday, August 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, COMPASS Pathways presently has an average rating of “Buy” and a consensus price target of $30.67.

COMPASS Pathways Stock Performance

Shares of CMPS stock opened at $4.68 on Friday. The firm has a market capitalization of $320.07 million, a PE ratio of -2.13 and a beta of 2.29. The company has a 50 day moving average price of $6.54 and a 200-day moving average price of $7.02. COMPASS Pathways has a 52 week low of $4.05 and a 52 week high of $12.75. The company has a quick ratio of 12.03, a current ratio of 12.03 and a debt-to-equity ratio of 0.13.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.04. During the same quarter in the previous year, the business posted ($0.67) EPS. As a group, equities research analysts expect that COMPASS Pathways will post -2.35 earnings per share for the current year.

Insider Buying and Selling

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $6.05, for a total value of $16,093,000.00. Following the completion of the sale, the insider now directly owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. bought a new stake in COMPASS Pathways during the second quarter valued at about $81,000. Green Alpha Advisors LLC bought a new position in shares of COMPASS Pathways during the 3rd quarter worth approximately $99,000. Kennedy Capital Management LLC purchased a new stake in COMPASS Pathways during the first quarter valued at approximately $139,000. Tidal Investments LLC boosted its stake in COMPASS Pathways by 43.6% in the first quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock valued at $159,000 after acquiring an additional 5,795 shares in the last quarter. Finally, Chesapeake Capital Corp IL purchased a new position in COMPASS Pathways in the first quarter worth $189,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

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.