ARK Investment Management LLC Sells 95,386 Shares of COMPASS Pathways plc (NASDAQ:CMPS)

ARK Investment Management LLC lessened its stake in COMPASS Pathways plc (NASDAQ:CMPS) by 4.5% in the third quarter, HoldingsChannel reports. The fund owned 2,005,125 shares of the company’s stock after selling 95,386 shares during the period. ARK Investment Management LLC’s holdings in COMPASS Pathways were worth $12,632,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Logos Global Management LP lifted its position in COMPASS Pathways by 349.3% in 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 last quarter. Affinity Asset Advisors LLC boosted its position in COMPASS Pathways by 86.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock valued at $8,552,000 after buying an additional 477,868 shares during the period. Rosalind Advisors Inc. increased its position in shares of COMPASS Pathways by 6.5% in the third quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock valued at $4,923,000 after acquiring an additional 47,423 shares during the period. Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 247,500 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of COMPASS Pathways by 34.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 148,134 shares of the company’s stock worth $933,000 after purchasing an additional 38,145 shares during the period. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

COMPASS Pathways Price Performance

Shares of NASDAQ CMPS opened at $5.30 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.91 and a current ratio of 8.91. The company has a 50 day simple moving average of $6.41 and a two-hundred day simple moving average of $6.97. COMPASS Pathways plc has a fifty-two week low of $4.05 and a fifty-two week high of $12.75. The company has a market capitalization of $362.63 million, a price-to-earnings ratio of -2.36 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same period in the prior year, the business posted ($0.67) EPS. Analysts expect that COMPASS Pathways plc will post -2.39 EPS for the current fiscal year.

Insider Transactions at COMPASS Pathways

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the sale, the insider now directly owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CMPS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Canaccord Genuity Group cut their price target on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. 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. HC Wainwright cut their target price 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. Finally, Maxim Group decreased their price target on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.67.

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.