Short Interest in COMPASS Pathways plc (NASDAQ:CMPS) Declines By 6.2%

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 5,450,000 shares, a decrease of 6.2% from the October 15th total of 5,810,000 shares. Based on an average daily trading volume, of 751,300 shares, the short-interest ratio is presently 7.3 days.

Analysts Set New Price Targets

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

COMPASS Pathways Trading Down 7.5 %

NASDAQ CMPS opened at $4.66 on Tuesday. COMPASS Pathways has a 1 year low of $4.05 and a 1 year high of $12.75. The stock’s 50-day moving average price is $6.09 and its two-hundred day moving average price is $6.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.91 and a current ratio of 8.91.

COMPASS Pathways (NASDAQ:CMPS) last released its earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.04. During the same period in the previous year, the firm posted ($0.67) EPS. As a group, equities research analysts expect that COMPASS Pathways will post -2.33 EPS for the current year.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 6,905,774 shares of the company’s stock, valued at $41,779,932.70. This trade represents a 27.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

A number of hedge funds have recently added to or reduced their stakes in CMPS. Blue Trust Inc. acquired a new position in shares of COMPASS Pathways during the 2nd quarter worth $81,000. Green Alpha Advisors LLC bought a new position in COMPASS Pathways during the third quarter valued at about $99,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of COMPASS Pathways in the third quarter worth about $131,000. Kennedy Capital Management LLC bought a new stake in shares of COMPASS Pathways during the 1st quarter worth about $139,000. Finally, Tidal Investments LLC increased its holdings 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 acquiring an additional 5,795 shares during the last quarter. 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.