Royal Bank of Canada Cuts COMPASS Pathways (NASDAQ:CMPS) Price Target to $18.00

COMPASS Pathways (NASDAQ:CMPS) had its price target reduced by Royal Bank of Canada from $23.00 to $18.00 in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and set a $120.00 target price on shares of COMPASS Pathways in a report on Friday, August 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Finally, Canaccord Genuity Group decreased their target price on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, COMPASS Pathways presently has a consensus rating of “Buy” and an average price target of $30.67.

COMPASS Pathways Price Performance

NASDAQ:CMPS opened at $4.75 on Friday. COMPASS Pathways has a 52 week low of $4.05 and a 52 week high of $12.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03. The firm’s 50-day simple moving average is $6.61 and its 200 day simple moving average is $7.04. The firm has a market cap of $324.85 million, a price-to-earnings ratio of -2.16 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.04. During the same quarter in the prior year, the firm earned ($0.67) EPS. As a group, sell-side analysts predict that COMPASS Pathways will post -2.35 earnings per share for the current year.

Insider Buying and Selling 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 that occurred on Thursday, September 26th. The shares were sold at an average price of $6.05, for a total value of $16,093,000.00. Following the sale, the insider now directly owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

A number of institutional investors and hedge funds have recently bought and sold shares of CMPS. Tidal Investments LLC increased its stake in shares of 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 buying an additional 5,795 shares during the period. AdvisorShares Investments LLC grew its holdings in COMPASS Pathways by 13.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock worth $362,000 after acquiring an additional 7,243 shares during the last quarter. Blue Trust Inc. acquired a new position in COMPASS Pathways in the 2nd quarter valued at approximately $81,000. Green Alpha Advisors LLC bought a new position in shares of COMPASS Pathways during the third quarter valued at $99,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of COMPASS Pathways during the first quarter worth $139,000. Institutional investors and hedge funds 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.