Short Interest in COMPASS Pathways plc (NASDAQ:CMPS) Drops By 9.1%

COMPASS Pathways plc (NASDAQ:CMPS) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 5,810,000 shares, a drop of 9.1% from the September 30th total of 6,390,000 shares. Based on an average daily volume of 507,200 shares, the days-to-cover ratio is currently 11.5 days.

COMPASS Pathways Stock Performance

COMPASS Pathways stock traded down $0.06 during midday trading on Friday, hitting $4.70. 1,577,958 shares of the company were exchanged, compared to its average volume of 586,659. COMPASS Pathways has a fifty-two week low of $4.05 and a fifty-two week high of $12.75. The firm has a market capitalization of $321.43 million, a PE ratio of -1.98 and a beta of 2.26. The business has a fifty day simple moving average of $6.66 and a two-hundred day simple moving average of $7.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.03 and a current ratio of 12.03.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same period in the previous year, the firm earned ($0.62) EPS. On average, sell-side analysts forecast that COMPASS Pathways will post -2.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group dropped 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. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of COMPASS Pathways in a research note on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Royal Bank of Canada dropped their target price on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Maxim Group reduced their price target on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $40.67.

Insider Buying and Selling

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On COMPASS Pathways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new position in shares of COMPASS Pathways during the 2nd quarter worth about $81,000. Green Alpha Advisors LLC acquired a new position in shares of COMPASS Pathways during the third quarter valued at approximately $99,000. Kennedy Capital Management LLC purchased a new position in shares of COMPASS Pathways in the first quarter valued at approximately $139,000. Tidal Investments LLC lifted its position 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 acquiring an additional 5,795 shares in the last quarter. Finally, Fore Capital LLC acquired a new stake in shares of COMPASS Pathways in the second quarter worth approximately $181,000. 46.19% of the stock is owned by hedge funds and other 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.