COMPASS Pathways plc (NASDAQ:CMPS) Sees Large Drop in Short Interest

COMPASS Pathways plc (NASDAQ:CMPS - Get Free Report) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 3,850,000 shares, a decline of 7.7% from the November 15th total of 4,170,000 shares. Based on an average daily volume of 849,700 shares, the days-to-cover ratio is currently 4.5 days.

COMPASS Pathways Stock Up 2.6 %

Shares of NASDAQ:CMPS traded up $0.11 during midday trading on Monday, hitting $4.33. 399,807 shares of the stock were exchanged, compared to its average volume of 635,428. The company has a market capitalization of $296.26 million, a PE ratio of -1.92 and a beta of 2.24. COMPASS Pathways has a 52-week low of $4.00 and a 52-week high of $12.75. 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 business's fifty day simple moving average is $5.23 and its two-hundred day simple moving average is $6.32.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.60) by $0.04. During the same period in the previous year, the company earned ($0.67) EPS. As a group, research analysts predict that COMPASS Pathways will post -2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $6.05, for a total transaction 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 represents a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.25% of the company's stock.

Institutional Trading of COMPASS Pathways

A number of institutional investors have recently added to or reduced their stakes in CMPS. Blue Trust Inc. bought a new stake in shares of COMPASS Pathways during the 2nd quarter worth about $81,000. Green Alpha Advisors LLC bought a new stake in COMPASS Pathways during the third quarter worth approximately $99,000. Y Intercept Hong Kong Ltd acquired a new position in COMPASS Pathways during the third quarter valued at approximately $131,000. Fore Capital LLC bought a new position in shares of COMPASS Pathways in the second quarter valued at approximately $181,000. Finally, Geode Capital Management LLC lifted its stake in shares of COMPASS Pathways by 160.3% in the third quarter. Geode Capital Management LLC now owns 42,169 shares of the company's stock worth $266,000 after buying an additional 25,970 shares during the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of COMPASS Pathways in a report on Monday, September 9th. 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 reduced their target price on COMPASS Pathways from $23.00 to $18.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, HC Wainwright decreased their target price on COMPASS Pathways from $120.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, COMPASS Pathways currently has a consensus rating of "Buy" and a consensus target price of $33.60.

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.

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