COMPASS Pathways (NASDAQ:CMPS) Given New $60.00 Price Target at HC Wainwright

COMPASS Pathways (NASDAQ:CMPS) had its price objective reduced by HC Wainwright from $120.00 to $60.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Canaccord Genuity Group cut their target price on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Maxim Group lowered their price target on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank of Canada cut their price objective on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, COMPASS Pathways currently has a consensus rating of “Buy” and an average target price of $30.67.

COMPASS Pathways Stock Down 0.2 %

COMPASS Pathways stock opened at $4.75 on Friday. COMPASS Pathways has a 1-year low of $4.05 and a 1-year high of $12.75. The business has a fifty day moving average price of $6.61 and a 200-day moving average price of $7.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.03 and a quick ratio of 12.03. The stock has a market capitalization of $324.85 million, a price-to-earnings ratio of -2.16 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.04. During the same period last year, the company posted ($0.67) earnings per share. Equities research analysts forecast that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.25% of the company’s stock.

Institutional Trading of COMPASS Pathways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Logos Global Management LP boosted its stake in shares of COMPASS Pathways by 349.3% during the 2nd quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock worth $7,001,000 after acquiring an additional 901,050 shares in the last quarter. Renaissance Technologies LLC grew its holdings in COMPASS Pathways by 1,518.4% in the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock valued at $1,593,000 after purchasing an additional 247,500 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in COMPASS Pathways in the second quarter valued at approximately $664,000. Tidal Investments LLC increased its position in shares of 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 buying an additional 5,795 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of COMPASS Pathways during the 1st quarter worth approximately $201,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.