COMPASS Pathways plc (NASDAQ:CMPS) Sees Large Drop in Short Interest

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 3,850,000 shares, a decline of 7.7% from the November 15th total of 4,170,000 shares. Based on an average daily volume of 849,700 shares, the short-interest ratio is currently 4.5 days.

Insider Transactions at COMPASS Pathways

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways 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 transaction, the insider now directly owns 6,905,774 shares of the company’s stock, valued at $41,779,932.70. The trade was a 27.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On COMPASS Pathways

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorShares Investments LLC grew its position in COMPASS Pathways by 13.5% in the second quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock valued at $362,000 after acquiring an additional 7,243 shares during the period. Franklin Resources Inc. boosted its stake in shares of COMPASS Pathways by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 295,785 shares of the company’s stock valued at $1,810,000 after purchasing an additional 12,599 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of COMPASS Pathways in the 2nd quarter worth about $81,000. Green Alpha Advisors LLC acquired a new stake in shares of COMPASS Pathways during the 3rd quarter worth about $99,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in COMPASS Pathways in the third quarter valued at about $131,000. Institutional investors own 46.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMPS. HC Wainwright lowered their price objective on shares of COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Maxim Group dropped their price objective on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada cut their price objective on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $33.60.

COMPASS Pathways Price Performance

Shares of CMPS stock traded up $0.11 during mid-day trading on Monday, reaching $4.33. The company’s stock had a trading volume of 399,807 shares, compared to its average volume of 635,428. The firm’s 50-day moving average is $5.23 and its two-hundred day moving average is $6.32. The company has a market cap of $296.26 million, a P/E ratio of -1.92 and a beta of 2.24. COMPASS Pathways has a 1-year low of $4.00 and a 1-year high of $12.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.91 and a current ratio of 8.91.

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, topping the consensus estimate of ($0.60) by $0.04. During the same quarter last year, the business posted ($0.67) earnings per share. On average, research analysts predict that COMPASS Pathways will post -2.33 earnings per share 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.