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

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,450,000 shares, a drop of 6.2% from the October 15th total of 5,810,000 shares. Based on an average daily trading volume, of 751,300 shares, the short-interest ratio is presently 7.3 days.

Analyst Upgrades and Downgrades

CMPS has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their target price on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Maxim Group cut their price objective on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. HC Wainwright dropped their price target on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Royal Bank of Canada lowered their price target on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $30.67.

COMPASS Pathways Price Performance

Shares of CMPS traded down $0.17 on Monday, hitting $4.87. The company’s stock had a trading volume of 90,822 shares, compared to its average volume of 628,630. The company has a market capitalization of $333.21 million, a PE ratio of -2.29 and a beta of 2.29. COMPASS Pathways has a fifty-two week low of $4.05 and a fifty-two week high of $12.75. The company has a 50 day moving average price of $6.13 and a 200 day moving average price of $6.81. 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 (NASDAQ:CMPS) last announced its earnings results 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 last year, the business earned ($0.67) earnings per share. On average, research analysts anticipate that COMPASS Pathways will post -2.33 earnings per share for the current fiscal year.

Insider Transactions at COMPASS Pathways

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. The trade was a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On COMPASS Pathways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMPS. Geode Capital Management LLC lifted its position in COMPASS Pathways by 160.3% in the 3rd quarter. Geode Capital Management LLC now owns 42,169 shares of the company’s stock valued at $266,000 after acquiring an additional 25,970 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in COMPASS Pathways in the 3rd quarter valued at $131,000. Point72 Asset Management L.P. bought a new stake in COMPASS Pathways during the 3rd quarter worth about $371,000. Polar Asset Management Partners Inc. grew its holdings in shares of COMPASS Pathways by 83.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 567,600 shares of the company’s stock valued at $3,576,000 after acquiring an additional 258,000 shares in the last quarter. Finally, Sio Capital Management LLC raised its holdings in COMPASS Pathways by 211.7% during the third quarter. Sio Capital Management LLC now owns 914,639 shares of the company’s stock worth $5,762,000 after acquiring an additional 621,222 shares in the last quarter. Institutional investors own 46.19% of the company’s stock.

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.