ARK Investment Management LLC Decreases Position in COMPASS Pathways plc (NASDAQ:CMPS)

ARK Investment Management LLC trimmed its position in shares of COMPASS Pathways plc (NASDAQ:CMPS - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,005,125 shares of the company's stock after selling 95,386 shares during the quarter. ARK Investment Management LLC owned about 2.93% of COMPASS Pathways worth $12,632,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Logos Global Management LP lifted its position in shares of 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 buying an additional 901,050 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 buying an additional 247,500 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of COMPASS Pathways during the second quarter valued at about $664,000. Tidal Investments LLC increased its holdings in shares of COMPASS Pathways by 43.6% during the first quarter. Tidal Investments LLC now owns 19,082 shares of the company's stock valued at $159,000 after acquiring an additional 5,795 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of COMPASS Pathways during the first quarter valued at about $201,000. 46.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at COMPASS Pathways

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 6,905,774 shares of the company's stock, valued at $41,779,932.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CMPS shares. HC Wainwright cut their price objective on shares of COMPASS Pathways from $120.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald restated an "overweight" rating on shares of COMPASS Pathways in a report on Monday, September 9th. Royal Bank of Canada cut their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Canaccord Genuity Group cut their price objective 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. Finally, Maxim Group cut their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $30.67.

COMPASS Pathways Price Performance

CMPS stock traded up $0.15 during midday trading on Friday, reaching $5.45. The stock had a trading volume of 1,970,742 shares, compared to its average volume of 612,766. The company's fifty day simple moving average is $6.36 and its 200 day simple moving average is $6.96. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. The company has a market cap of $372.89 million, a price-to-earnings ratio of -2.32 and a beta of 2.29. COMPASS Pathways plc has a 52-week low of $4.05 and a 52-week high of $12.75.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last announced 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 previous year, the business posted ($0.67) earnings per share. As a group, sell-side analysts predict that COMPASS Pathways plc will post -2.39 earnings per share for the current fiscal year.

COMPASS Pathways Company Profile

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.