COMPASS Pathways (NASDAQ:CMPS) Given New $18.00 Price Target at Royal Bank of Canada

COMPASS Pathways (NASDAQ:CMPS) had its price target cut by Royal Bank of Canada from $23.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 292.16% from the stock’s previous close.

CMPS has been the subject of several other research reports. Canaccord Genuity Group decreased their target price on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of COMPASS Pathways in a research report on Friday, August 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $46.40.

COMPASS Pathways Trading Down 3.6 %

Shares of NASDAQ:CMPS traded down $0.17 during trading on Friday, reaching $4.59. The stock had a trading volume of 1,417,489 shares, compared to its average volume of 585,915. 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 fifty day moving average is $6.66 and its 200 day moving average is $7.09. The stock has a market cap of $313.91 million, a price-to-earnings ratio of -2.00 and a beta of 2.26.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same period in the previous year, the business posted ($0.62) earnings per share. As a group, equities analysts forecast that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Insider Transactions at COMPASS Pathways

In other COMPASS Pathways 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 shares were 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 approximately $41,779,932.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.25% of the stock is owned by insiders.

Institutional Trading of COMPASS Pathways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMPS. Blue Trust Inc. purchased a new position in shares of COMPASS Pathways during the second quarter valued at approximately $81,000. Green Alpha Advisors LLC bought a new position in COMPASS Pathways during the 3rd quarter valued at $99,000. Kennedy Capital Management LLC purchased a new position in COMPASS Pathways during the 1st quarter worth $139,000. Tidal Investments LLC grew its stake in shares of COMPASS Pathways by 43.6% in the 1st quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after acquiring an additional 5,795 shares in the last quarter. Finally, Chesapeake Capital Corp IL purchased a new stake in shares of COMPASS Pathways in the first quarter valued at about $189,000. 46.19% of the stock is owned by institutional investors.

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.