Short Interest in COMPASS Pathways plc (NASDAQ:CMPS) Decreases By 9.1%

COMPASS Pathways plc (NASDAQ:CMPS) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 5,810,000 shares, a drop of 9.1% from the September 30th total of 6,390,000 shares. Based on an average daily trading volume, of 507,200 shares, the short-interest ratio is currently 11.5 days.

Analysts Set New Price Targets

A number of analysts recently issued reports on CMPS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of COMPASS Pathways in a report on Tuesday, September 10th. HC Wainwright restated a “buy” rating and set a $120.00 target price on shares of COMPASS Pathways in a report on Friday, August 23rd. Canaccord Genuity Group decreased their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, COMPASS Pathways has an average rating of “Buy” and an average price target of $47.40.

Insider Activity at COMPASS Pathways

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 6,905,774 shares in the company, valued at $41,779,932.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On COMPASS Pathways

Several institutional investors and hedge funds have recently modified their holdings of the company. Logos Global Management LP grew 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 purchasing an additional 901,050 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in shares of COMPASS Pathways by 86.9% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock worth $8,552,000 after purchasing an additional 477,868 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of COMPASS Pathways by 1,518.4% in the 2nd quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after purchasing an additional 247,500 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of COMPASS Pathways in the second quarter worth approximately $664,000. Finally, SVB Wealth LLC purchased a new position in shares of COMPASS Pathways in the first quarter worth approximately $443,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Stock Performance

Shares of NASDAQ:CMPS traded down $0.16 on Friday, reaching $4.60. The company’s stock had a trading volume of 1,248,284 shares, compared to its average volume of 585,292. The stock has a market capitalization of $314.59 million, a P/E ratio of -2.06 and a beta of 2.26. COMPASS Pathways has a 52-week low of $4.05 and a 52-week high of $12.75. The stock’s 50-day moving average is $6.66 and its two-hundred day moving average is $7.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.03 and a quick ratio of 12.03.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same quarter last year, the business posted ($0.62) EPS. As a group, sell-side analysts forecast that COMPASS Pathways will post -2.35 EPS for the current year.

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.