COMPASS Pathways (NASDAQ:CMPS) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of COMPASS Pathways (NASDAQ:CMPS) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $23.00 price target on the stock.

Several other equities analysts have also issued reports on CMPS. HC Wainwright restated a buy rating and set a $120.00 price target on shares of COMPASS Pathways in a research note on Friday, August 23rd. Canaccord Genuity Group decreased their price objective 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. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of COMPASS Pathways in a report on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $47.40.

COMPASS Pathways Trading Down 1.0 %

COMPASS Pathways stock opened at $6.78 on Tuesday. The firm has a market capitalization of $463.62 million, a price-to-earnings ratio of -2.86 and a beta of 2.27. 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 0.13, a quick ratio of 12.03 and a current ratio of 12.03. The company has a 50 day moving average price of $7.13 and a 200 day moving average price of $7.96.

COMPASS Pathways (NASDAQ:CMPS) last posted its 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 period in the prior year, the company earned ($0.62) EPS. Research analysts forecast that COMPASS Pathways will post -2.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Logos Global Management LP grew its position in COMPASS Pathways by 349.3% during the second quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock worth $7,001,000 after buying an additional 901,050 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of 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 purchasing an additional 247,500 shares during the period. Fore Capital LLC acquired a new position in COMPASS Pathways in the second quarter valued at about $181,000. AdvisorShares Investments LLC lifted its position in COMPASS Pathways by 13.5% during the second quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock worth $362,000 after purchasing an additional 7,243 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in COMPASS Pathways during the second quarter worth about $664,000. 46.19% of the stock is owned by institutional investors.

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.