COMPASS Pathways (NASDAQ:CMPS) Price Target Cut to $12.00 by Analysts at Maxim Group

COMPASS Pathways (NASDAQ:CMPS) had its price target lowered by Maxim Group from $22.00 to $12.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group dropped their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of COMPASS Pathways in a report on Friday, August 23rd. Royal Bank of Canada lowered their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $30.67.

COMPASS Pathways Trading Down 0.2 %

Shares of COMPASS Pathways stock traded down $0.01 during midday trading on Friday, reaching $4.75. The company had a trading volume of 2,081,860 shares, compared to its average volume of 589,220. The stock has a fifty day moving average price of $6.61 and a 200 day moving average price of $7.06. COMPASS Pathways has a fifty-two week low of $4.05 and a fifty-two week high of $12.75. The firm has a market cap of $324.85 million, a PE ratio of -2.06 and a beta of 2.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.03 and a quick ratio of 12.03.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same quarter in the prior year, the company earned ($0.62) EPS. On average, equities analysts anticipate that COMPASS Pathways will post -2.35 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 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 transaction, the insider now owns 6,905,774 shares in the company, valued at $41,779,932.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On COMPASS Pathways

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of COMPASS Pathways in the 2nd quarter worth about $81,000. Green Alpha Advisors LLC bought a new stake in shares of COMPASS Pathways in the 3rd quarter worth approximately $99,000. Kennedy Capital Management LLC purchased a new position in COMPASS Pathways in the first quarter valued at approximately $139,000. Tidal Investments LLC lifted its stake in 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 purchasing an additional 5,795 shares during the last quarter. Finally, Fore Capital LLC bought a new position in COMPASS Pathways during the second quarter valued at $181,000. 46.19% of the stock is 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.