COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Down 6.2% in October

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,450,000 shares, a drop of 6.2% from the October 15th total of 5,810,000 shares. Based on an average trading volume of 751,300 shares, the days-to-cover ratio is presently 7.3 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CMPS shares. HC Wainwright lowered their price objective on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Maxim Group decreased their target price 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 dropped their price target on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Canaccord Genuity Group decreased their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, COMPASS Pathways has a consensus rating of “Buy” and a consensus target price of $30.67.

Insider Activity

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 shares were 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 owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. This represents a 27.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.25% of the company’s stock.

Institutional Investors Weigh In On COMPASS Pathways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in shares of COMPASS Pathways in the 2nd quarter worth $81,000. Green Alpha Advisors LLC bought a new stake in COMPASS Pathways during the third quarter worth approximately $99,000. Y Intercept Hong Kong Ltd acquired a new position in COMPASS Pathways in the third quarter worth approximately $131,000. Kennedy Capital Management LLC bought a new position in shares of COMPASS Pathways in the first quarter valued at $139,000. Finally, Tidal Investments LLC raised its position in shares of COMPASS Pathways by 43.6% during the first quarter. Tidal Investments LLC now owns 19,082 shares of the company’s stock worth $159,000 after purchasing an additional 5,795 shares during the period. Institutional investors own 46.19% of the company’s stock.

COMPASS Pathways Stock Down 3.4 %

Shares of CMPS traded down $0.17 during midday trading on Monday, reaching $4.87. The stock had a trading volume of 90,822 shares, compared to its average volume of 628,630. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.91 and a quick ratio of 8.91. COMPASS Pathways has a 1-year low of $4.05 and a 1-year high of $12.75. The company’s fifty day simple moving average is $6.13 and its two-hundred day simple moving average is $6.81. The company has a market cap of $333.21 million, a price-to-earnings ratio of -2.29 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. During the same period last year, the firm earned ($0.67) EPS. Equities research analysts expect that COMPASS Pathways will post -2.33 earnings per share for the current year.

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.