COMPASS Pathways (NASDAQ:CMPS) Shares Gap Up to $7.19

COMPASS Pathways plc (NASDAQ:CMPS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.19, but opened at $8.30. COMPASS Pathways shares last traded at $8.05, with a volume of 735,331 shares trading hands.

Analyst Ratings Changes

Several research firms have commented on CMPS. Royal Bank of Canada began coverage on COMPASS Pathways in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $23.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of COMPASS Pathways in a research report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a research report on Friday, June 21st. Finally, Canaccord Genuity Group dropped their target price on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $47.40.

COMPASS Pathways Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 15.23 and a quick ratio of 15.23. The company has a market capitalization of $547.05 million, a P/E ratio of -3.38 and a beta of 2.27. The stock has a 50-day moving average price of $6.90 and a 200-day moving average price of $8.21.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same period in the prior year, the company posted ($0.62) earnings per share. On average, research analysts predict that COMPASS Pathways plc will post -2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On COMPASS Pathways

A number of hedge funds have recently made changes to their positions in the stock. Logos Global Management LP raised its position in shares of COMPASS Pathways by 349.3% during the second 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 during the last quarter. Affinity Asset Advisors LLC increased its holdings in COMPASS Pathways by 86.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock worth $8,552,000 after purchasing an additional 477,868 shares in the last quarter. PFM Health Sciences LP increased its holdings in COMPASS Pathways by 540.7% in the fourth quarter. PFM Health Sciences LP now owns 338,761 shares of the company’s stock worth $2,964,000 after purchasing an additional 285,890 shares in the last quarter. Renaissance Technologies LLC increased 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 worth $1,593,000 after purchasing an additional 247,500 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in COMPASS Pathways in the second quarter worth approximately $664,000. 46.19% of the stock is currently owned by institutional investors.

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.