HC Wainwright Cuts COMPASS Pathways (NASDAQ:CMPS) Price Target to $60.00

COMPASS Pathways (NASDAQ:CMPS) had its target price lowered by HC Wainwright from $120.00 to $60.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Cantor Fitzgerald restated 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 for the company in a research report on Friday. Canaccord Genuity Group decreased their target price on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada cut their price target on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, COMPASS Pathways presently has a consensus rating of “Buy” and a consensus price target of $30.67.

COMPASS Pathways Trading Down 0.2 %

Shares of CMPS stock opened at $4.75 on Friday. The stock has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $7.04. COMPASS Pathways has a 52-week low of $4.05 and a 52-week high of $12.75. The firm has a market capitalization of $324.85 million, a PE ratio of -2.16 and a beta of 2.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03.

COMPASS Pathways (NASDAQ:CMPS) last released its earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.04. During the same period in the previous year, the firm posted ($0.67) EPS. On average, analysts predict that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm’s stock in a transaction that occurred on 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 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On COMPASS Pathways

A number of large investors have recently made changes to their positions in CMPS. Logos Global Management LP boosted its holdings in COMPASS Pathways by 349.3% during the 2nd quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock valued at $7,001,000 after acquiring an additional 901,050 shares during the period. Affinity Asset Advisors LLC increased its holdings in COMPASS Pathways by 86.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock valued at $8,552,000 after buying an additional 477,868 shares during the period. Rosalind Advisors Inc. increased its holdings in COMPASS Pathways by 6.5% during the third quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock valued at $4,923,000 after buying an additional 47,423 shares during the period. Renaissance Technologies LLC raised its stake in COMPASS Pathways by 1,518.4% in the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after buying an additional 247,500 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in COMPASS Pathways by 34.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 148,134 shares of the company’s stock worth $933,000 after buying an additional 38,145 shares during the period. 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.