ARK Investment Management LLC Sells 95,386 Shares of COMPASS Pathways plc (NASDAQ:CMPS)

ARK Investment Management LLC lessened its stake in shares of COMPASS Pathways plc (NASDAQ:CMPS) by 4.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,005,125 shares of the company’s stock after selling 95,386 shares during the period. ARK Investment Management LLC owned about 2.93% of COMPASS Pathways worth $12,632,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new stake in shares of COMPASS Pathways during the 2nd quarter worth approximately $81,000. Green Alpha Advisors LLC bought a new stake in shares of COMPASS Pathways in the third quarter valued at $99,000. Kennedy Capital Management LLC purchased a new position in shares of COMPASS Pathways during the 1st quarter valued at $139,000. Tidal Investments LLC lifted its position in shares of COMPASS Pathways by 43.6% during the 1st quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock valued at $159,000 after buying an additional 5,795 shares during the last quarter. Finally, Chesapeake Capital Corp IL bought a new position in shares of COMPASS Pathways during the 1st quarter worth $189,000. Institutional investors own 46.19% of the company’s stock.

Analysts Set New Price Targets

CMPS has been the topic of a number of research reports. HC Wainwright lowered their price objective on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group dropped their price target on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Maxim Group reduced their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Finally, Royal Bank of Canada reduced their target price on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, COMPASS Pathways has an average rating of “Buy” and an average price target of $30.67.

COMPASS Pathways Stock Up 12.1 %

Shares of NASDAQ CMPS opened at $5.30 on Friday. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $6.41 and a 200-day moving average of $6.97. The firm has a market capitalization of $362.63 million, a price-to-earnings ratio of -2.36 and a beta of 2.29. COMPASS Pathways plc has a 12 month low of $4.05 and a 12 month high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. During the same quarter in the previous year, the firm posted ($0.67) earnings per share. Sell-side analysts expect that COMPASS Pathways plc will post -2.39 earnings per share for the current fiscal year.

Insider Activity at COMPASS Pathways

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the completion of the sale, the insider now owns 6,905,774 shares of the company’s stock, valued at $41,779,932.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.25% of the stock is owned by insiders.

COMPASS Pathways 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.