HC Wainwright Has Lowered Expectations for COMPASS Pathways (NASDAQ:CMPS) Stock Price

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) had its price objective cut by analysts at HC Wainwright from $120.00 to $60.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock.

Several other equities research analysts have also recently commented on CMPS. Cantor Fitzgerald restated an "overweight" rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Canaccord Genuity Group cut their price objective on shares of COMPASS Pathways from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada dropped their price target on shares of COMPASS Pathways from $23.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Maxim Group reduced their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a "buy" rating for the company in a research report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, COMPASS Pathways has a consensus rating of "Buy" and an average target price of $30.67.

COMPASS Pathways Stock Down 0.2 %

Shares of NASDAQ CMPS traded down $0.01 during mid-day trading on Friday, reaching $4.75. The company had a trading volume of 2,080,413 shares, compared to its average volume of 589,216. The firm has a 50 day simple moving average of $6.66 and a two-hundred day simple moving average of $7.09. COMPASS Pathways has a 52-week low of $4.05 and a 52-week high of $12.75. The company has a current ratio of 12.03, a quick ratio of 12.03 and a debt-to-equity ratio of 0.13. The stock has a market cap of $324.85 million, a P/E ratio of -2.06 and a beta of 2.26.

COMPASS Pathways (NASDAQ:CMPS - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.03). During the same quarter in the prior year, the firm posted ($0.62) earnings per share. Sell-side analysts predict that COMPASS Pathways will post -2.35 earnings per share for the current year.

Insider Transactions at COMPASS Pathways

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction dated 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 transaction, the insider now directly owns 6,905,774 shares of the company's stock, valued at $41,779,932.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.25% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMPS. Chesapeake Capital Corp IL purchased a new stake in COMPASS Pathways during the 1st quarter worth approximately $189,000. Affinity Asset Advisors LLC raised its holdings in COMPASS Pathways by 86.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company's stock valued at $8,552,000 after acquiring an additional 477,868 shares in the last quarter. SVB Wealth LLC bought a new position in COMPASS Pathways during the 1st quarter valued at $443,000. Kennedy Capital Management LLC acquired a new position in COMPASS Pathways during the 1st quarter worth $139,000. Finally, Tidal Investments LLC increased its position in shares of COMPASS Pathways by 43.6% in the 1st quarter. Tidal Investments LLC now owns 19,082 shares of the company's stock worth $159,000 after purchasing an additional 5,795 shares during the last quarter. 46.19% of the stock is currently 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.

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