COMPASS Pathways (NASDAQ:CMPS) Receives “Outperform” Rating from Royal Bank of Canada

COMPASS Pathways (NASDAQ:CMPSGet Free Report)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 424.78% from the stock’s current price.

Several other equities research analysts have also commented on the stock. HC Wainwright dropped their price objective on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Maxim Group dropped their target price on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $33.60.

Get Our Latest Research Report on COMPASS Pathways

COMPASS Pathways Stock Up 2.1 %

NASDAQ:CMPS traded up $0.07 during mid-day trading on Wednesday, hitting $3.43. 140,368 shares of the company’s stock were exchanged, compared to its average volume of 1,460,773. COMPASS Pathways has a one year low of $3.16 and a one year high of $12.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. The business has a fifty day moving average price of $4.38 and a 200 day moving average price of $5.91. The company has a market cap of $234.68 million, a PE ratio of -1.56 and a beta of 2.27.

COMPASS Pathways (NASDAQ:CMPSGet Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.04. During the same quarter in the prior year, the business posted ($0.67) EPS. Equities analysts predict that COMPASS Pathways will post -2.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. lifted its position in COMPASS Pathways by 83.3% during the third quarter. Polar Asset Management Partners Inc. now owns 567,600 shares of the company’s stock valued at $3,576,000 after purchasing an additional 258,000 shares during the period. Logos Global Management LP lifted its position in COMPASS Pathways by 349.3% during the second quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock valued at $7,001,000 after purchasing an additional 901,050 shares during the period. Renaissance Technologies LLC lifted its position in COMPASS Pathways by 1,518.4% during the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock valued at $1,593,000 after purchasing an additional 247,500 shares during the period. Sio Capital Management LLC increased its holdings in COMPASS Pathways by 211.7% during the third quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock valued at $5,762,000 after buying an additional 621,222 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in COMPASS Pathways during the third quarter valued at approximately $2,126,000. Institutional investors own 46.19% of the company’s stock.

About COMPASS Pathways

(Get Free Report)

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.

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