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

COMPASS Pathways plc (NASDAQ:CMPS) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 5,440,000 shares, a growth of 21.7% from the January 31st total of 4,470,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 5.3 days.

COMPASS Pathways Stock Up 4.9 %

CMPS opened at $4.04 on Thursday. COMPASS Pathways has a fifty-two week low of $3.17 and a fifty-two week high of $11.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.91 and a current ratio of 8.91. The company has a fifty day moving average of $4.05 and a two-hundred day moving average of $5.18. The stock has a market capitalization of $276.42 million, a price-to-earnings ratio of -1.84 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). On average, research analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current year.

Institutional Trading of COMPASS Pathways

Institutional investors and hedge funds have recently made changes to their positions in the business. Tang Capital Management LLC purchased a new stake in COMPASS Pathways in the 4th quarter worth $3,780,000. RTW Investments LP purchased a new stake in COMPASS Pathways during the 4th quarter worth approximately $11,714,000. Point72 Asset Management L.P. lifted its position in shares of COMPASS Pathways by 15.4% in the fourth quarter. Point72 Asset Management L.P. now owns 67,999 shares of the company’s stock valued at $257,000 after acquiring an additional 9,099 shares in the last quarter. Integral Health Asset Management LLC acquired a new stake in shares of COMPASS Pathways in the fourth quarter worth approximately $756,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of COMPASS Pathways by 205.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 126,636 shares of the company’s stock worth $479,000 after purchasing an additional 85,213 shares in the last quarter. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMPS has been the subject of a number of research analyst reports. Stifel Nicolaus initiated coverage on shares of COMPASS Pathways in a report on Thursday, February 27th. They issued a “buy” rating and a $11.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $45.00 target price on shares of COMPASS Pathways in a research note on Tuesday. Canaccord Genuity Group reduced their price objective on COMPASS Pathways from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of COMPASS Pathways in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, COMPASS Pathways has a consensus rating of “Buy” and an average target price of $21.83.

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.