Short Interest in COMPASS Pathways plc (NASDAQ:CMPS) Grows By 19.7%

COMPASS Pathways plc (NASDAQ:CMPS) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,600,000 shares, an increase of 19.7% from the August 15th total of 4,680,000 shares. Based on an average trading volume of 439,200 shares, the days-to-cover ratio is presently 12.8 days.

Institutional Investors Weigh In On COMPASS Pathways

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in COMPASS Pathways during the 4th quarter worth approximately $371,000. Quest Partners LLC acquired a new position in shares of COMPASS Pathways during the fourth quarter worth $33,000. Affinity Asset Advisors LLC bought a new stake in shares of COMPASS Pathways in the fourth quarter worth $4,812,000. 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 valued at $2,964,000 after purchasing an additional 285,890 shares during the period. Finally, Chesapeake Capital Corp IL bought a new position in COMPASS Pathways during the 1st quarter worth $189,000. Institutional investors own 46.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CMPS. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of COMPASS Pathways in a research note on Tuesday, September 10th. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of COMPASS Pathways in a research report on Friday, August 23rd. Canaccord Genuity Group decreased their price objective 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. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $47.40.

COMPASS Pathways Price Performance

Shares of COMPASS Pathways stock traded up $0.02 during midday trading on Tuesday, hitting $7.22. 247,961 shares of the company traded hands, compared to its average volume of 545,797. The firm’s fifty day moving average price is $7.19 and its 200-day moving average price is $7.83. The stock has a market cap of $493.71 million, a price-to-earnings ratio of -3.05 and a beta of 2.27. COMPASS Pathways has a 12 month low of $5.01 and a 12 month high of $12.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03.

COMPASS Pathways (NASDAQ:CMPS) last posted its earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same period in the previous year, the company earned ($0.62) EPS. As a group, sell-side analysts forecast that COMPASS Pathways will post -2.35 earnings per share for the current year.

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.