Propel Bio Management LLC Purchases Shares of 80,000 COMPASS Pathways plc (NASDAQ:CMPS)

Propel Bio Management LLC acquired a new position in shares of COMPASS Pathways plc (NASDAQ:CMPS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 80,000 shares of the company’s stock, valued at approximately $504,000. COMPASS Pathways comprises about 0.3% of Propel Bio Management LLC’s holdings, making the stock its 18th biggest holding.

Several other institutional investors have also modified their holdings of CMPS. Blue Trust Inc. purchased a new position in shares of COMPASS Pathways in the 2nd quarter valued at $81,000. Green Alpha Advisors LLC purchased a new position in COMPASS Pathways during the 3rd quarter worth approximately $99,000. Kennedy Capital Management LLC purchased a new position in COMPASS Pathways during the 1st quarter worth approximately $139,000. Tidal Investments LLC increased its position in COMPASS Pathways by 43.6% during the first quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after buying an additional 5,795 shares during the period. Finally, Fore Capital LLC purchased a new stake in COMPASS Pathways in the second quarter valued at approximately $181,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Trading Up 3.6 %

Shares of COMPASS Pathways stock opened at $4.57 on Tuesday. The firm has a market cap of $312.68 million, a price-to-earnings ratio of -2.08 and a beta of 2.29. COMPASS Pathways plc has a 52-week low of $4.05 and a 52-week high of $12.75. The company’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $6.65. The company has a quick ratio of 8.91, a current ratio of 8.91 and a debt-to-equity ratio of 0.15.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same period in the previous year, the business posted ($0.67) earnings per share. As a group, equities research analysts anticipate that COMPASS Pathways plc will post -2.33 earnings per share for the current year.

Insider Activity at COMPASS Pathways

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $6.05, for a total value of $16,093,000.00. Following the completion of the transaction, the insider now owns 6,905,774 shares in the company, valued at $41,779,932.70. This trade represents a 27.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group cut their target price on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. HC Wainwright reduced their target price on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 1st. Maxim Group decreased their target price 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. Royal Bank of Canada dropped their price target on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $30.67.

About COMPASS Pathways

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.