COMPASS Pathways (NASDAQ:CMPS) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of COMPASS Pathways (NASDAQ:CMPS) in a report published on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $23.00 price target on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley started coverage on COMPASS Pathways in a research note on Monday, April 1st. They set an overweight rating and a $30.00 price target for the company. Cantor Fitzgerald restated an overweight rating on shares of COMPASS Pathways in a research note on Friday, June 21st. Finally, HC Wainwright restated a buy rating and set a $120.00 target price on shares of COMPASS Pathways in a research note on Monday, May 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, COMPASS Pathways has a consensus rating of Buy and a consensus target price of $43.33.

COMPASS Pathways Stock Performance

CMPS opened at $7.46 on Tuesday. The company has a market cap of $510.12 million, a PE ratio of -3.15 and a beta of 2.27. The stock has a 50-day moving average of $6.92 and a 200-day moving average of $8.65. COMPASS Pathways has a 52-week low of $5.01 and a 52-week high of $12.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.23 and a current ratio of 15.23.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.03). As a group, equities research analysts forecast that COMPASS Pathways will post -2.24 earnings per share for the current fiscal year.

Insider Activity at COMPASS Pathways

In other COMPASS Pathways news, major shareholder George Jay Goldsmith sold 9,621 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $8.29, for a total value of $79,758.09. Following the completion of the transaction, the insider now owns 3,966,052 shares of the company’s stock, valued at approximately $32,878,571.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On COMPASS Pathways

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in COMPASS Pathways in the 4th quarter valued at approximately $33,000. Blue Trust Inc. acquired a new position in COMPASS Pathways in the 2nd quarter valued at approximately $81,000. Conservest Capital Advisors Inc. acquired a new position in COMPASS Pathways in the 4th quarter valued at approximately $91,000. EWA LLC acquired a new position in COMPASS Pathways in the 4th quarter valued at approximately $107,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of COMPASS Pathways in the 1st quarter worth approximately $139,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

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.