Propel Bio Management LLC Invests $504,000 in COMPASS Pathways plc (NASDAQ:CMPS)

Propel Bio Management LLC purchased a new stake in shares of COMPASS Pathways plc (NASDAQ:CMPS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 80,000 shares of the company’s stock, valued at approximately $504,000. COMPASS Pathways accounts for approximately 0.3% of Propel Bio Management LLC’s holdings, making the stock its 18th biggest holding. Propel Bio Management LLC owned about 0.12% of COMPASS Pathways at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CMPS. Tidal Investments LLC raised its position in COMPASS Pathways by 43.6% in the first quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock valued at $159,000 after purchasing an additional 5,795 shares during the period. AdvisorShares Investments LLC raised its holdings in COMPASS Pathways by 13.5% in 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. acquired a new position in COMPASS Pathways in the second quarter valued at about $81,000. Green Alpha Advisors LLC purchased a new position in COMPASS Pathways during the third quarter worth about $99,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of COMPASS Pathways during the first quarter valued at about $139,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

COMPASS Pathways Stock Up 3.6 %

Shares of NASDAQ CMPS opened at $4.57 on Tuesday. The stock has a market cap of $312.68 million, a P/E ratio of -2.08 and a beta of 2.29. The business’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $6.65. COMPASS Pathways plc has a 12-month low of $4.05 and a 12-month high of $12.75. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.04. During the same period last year, the business posted ($0.67) earnings per share. As a group, equities analysts predict that COMPASS Pathways plc will post -2.33 EPS for the current fiscal year.

Insider Activity 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 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.25% of the stock is owned by corporate insiders.

COMPASS Pathways 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.