Canaccord Genuity Group Has Lowered Expectations for COMPASS Pathways (NASDAQ:CMPS) Stock Price

COMPASS Pathways (NASDAQ:CMPS) had its target price lowered by Canaccord Genuity Group from $23.00 to $15.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on CMPS. Stifel Nicolaus initiated coverage on shares of COMPASS Pathways in a research note on Thursday. They set a “buy” rating and a $11.00 target price on the stock. Maxim Group lowered their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of COMPASS Pathways in a research report on Wednesday, January 15th. Finally, HC Wainwright lowered their price target on COMPASS Pathways from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $21.83.

COMPASS Pathways Stock Performance

CMPS stock opened at $3.93 on Friday. The stock’s 50 day simple moving average is $4.06 and its 200 day simple moving average is $5.26. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. COMPASS Pathways has a 12-month low of $3.16 and a 12-month high of $12.57. The stock has a market capitalization of $268.89 million, a PE ratio of -1.79 and a beta of 2.28.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). As a group, research analysts forecast that COMPASS Pathways will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CMPS. Tang Capital Management LLC purchased a new stake in shares of COMPASS Pathways in the 4th quarter worth $3,780,000. RTW Investments LP bought a new stake in COMPASS Pathways during the fourth quarter valued at about $11,714,000. Point72 Asset Management L.P. increased its position in COMPASS Pathways by 15.4% in the fourth quarter. Point72 Asset Management L.P. now owns 67,999 shares of the company’s stock worth $257,000 after buying an additional 9,099 shares in the last quarter. Integral Health Asset Management LLC purchased a new stake in COMPASS Pathways in the fourth quarter worth about $756,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of COMPASS Pathways by 205.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 126,636 shares of the company’s stock worth $479,000 after buying an additional 85,213 shares during the period. 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.