COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Down 6.2% in October

COMPASS Pathways plc (NASDAQ:CMPS - Get Free Report) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,450,000 shares, a decline of 6.2% from the October 15th total of 5,810,000 shares. Based on an average daily volume of 751,300 shares, the days-to-cover ratio is presently 7.3 days.

COMPASS Pathways Price Performance

Shares of CMPS traded down $0.38 during trading hours on Monday, hitting $4.66. 879,832 shares of the company were exchanged, compared to its average volume of 632,164. The firm has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $6.81. The company has a market capitalization of $318.84 million, a PE ratio of -2.21 and a beta of 2.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. COMPASS Pathways has a one year low of $4.05 and a one year high of $12.75.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last issued 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 firm posted ($0.67) earnings per share. As a group, sell-side analysts predict that COMPASS Pathways will post -2.33 earnings per share for the current year.

Analyst Ratings Changes

CMPS has been the subject of several research analyst reports. Royal Bank of Canada lowered their price objective on 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 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 lowered their target price on COMPASS Pathways from $22.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 1st. Canaccord Genuity Group cut their price target on COMPASS Pathways from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.67.

Insiders Place Their Bets

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 shares were sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the completion of the transaction, the insider now directly owns 6,905,774 shares of the company's stock, valued at $41,779,932.70. This trade represents a 27.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On COMPASS Pathways

Several hedge funds have recently bought and sold shares of CMPS. Tidal Investments LLC lifted its position in shares of COMPASS Pathways by 43.6% in the first quarter. Tidal Investments LLC now owns 19,082 shares of the company's stock worth $159,000 after purchasing an additional 5,795 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of COMPASS Pathways by 13.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company's stock valued at $362,000 after buying an additional 7,243 shares during the period. Blue Trust Inc. purchased a new position in shares of COMPASS Pathways during the 2nd quarter valued at $81,000. Green Alpha Advisors LLC purchased a new position in shares of COMPASS Pathways during the 3rd quarter valued at $99,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of COMPASS Pathways in the first quarter worth $139,000. 46.19% of the stock is owned by hedge funds and other institutional investors.

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.