COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Down 9.1% in October

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

COMPASS Pathways Price Performance

Shares of CMPS traded down $0.03 during trading hours on Wednesday, hitting $6.19. 758,958 shares of the company were exchanged, compared to its average volume of 554,328. The firm has a fifty day simple moving average of $6.72 and a 200-day simple moving average of $7.11. The company has a market capitalization of $423.32 million, a PE ratio of -2.69 and a beta of 2.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.03 and a quick ratio of 12.03. COMPASS Pathways has a one year low of $5.01 and a one year high of $12.75.

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 firm earned ($0.62) earnings per share. As a group, sell-side analysts predict that COMPASS Pathways will post -2.35 earnings per share for the current year.

Insider Activity

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $6.05, for a total transaction of $16,093,000.00. Following the completion of the transaction, the insider now directly owns 6,905,774 shares in the company, valued at approximately $41,779,932.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.25% of the company’s stock.

Institutional Investors Weigh In On COMPASS Pathways

A number of large investors have recently made changes to their positions in the company. Logos Global Management LP boosted its stake in COMPASS Pathways by 349.3% in the 2nd quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock worth $7,001,000 after purchasing an additional 901,050 shares during the period. Renaissance Technologies LLC lifted its stake in COMPASS Pathways by 1,518.4% in the 2nd quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after acquiring an additional 247,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in COMPASS Pathways during the 2nd quarter worth about $664,000. Tidal Investments LLC boosted its position in COMPASS Pathways by 43.6% during 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 during the period. Finally, Virtu Financial LLC acquired a new position in shares of COMPASS Pathways in the 1st quarter valued at about $201,000. Institutional investors and hedge funds own 46.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMPS. HC Wainwright reiterated a “buy” rating and issued a $120.00 target price on shares of COMPASS Pathways in a research report on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Canaccord Genuity Group decreased their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of COMPASS Pathways in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $47.40.

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.