Royal Bank of Canada Lowers COMPASS Pathways (NASDAQ:CMPS) Price Target to $18.00

COMPASS Pathways (NASDAQ:CMPS) had its price objective lowered by Royal Bank of Canada from $23.00 to $18.00 in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

CMPS has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective on shares of COMPASS Pathways in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a research report on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, COMPASS Pathways currently has an average rating of “Buy” and a consensus target price of $30.67.

COMPASS Pathways Stock Down 1.5 %

Shares of NASDAQ CMPS opened at $4.68 on Friday. The company has a current ratio of 12.03, a quick ratio of 12.03 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $320.07 million, a PE ratio of -2.13 and a beta of 2.29. The stock’s fifty day simple moving average is $6.54 and its two-hundred day simple moving average is $7.02. COMPASS Pathways has a 12-month low of $4.05 and a 12-month high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last announced its earnings results on Thursday, October 31st. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.04. During the same period in the prior year, the firm posted ($0.67) EPS. As a group, analysts expect that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction that occurred on Thursday, September 26th. The shares were 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 of the company’s stock, valued at $41,779,932.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

A number of hedge funds have recently bought and sold shares of the business. Logos Global Management LP raised its stake in shares of COMPASS Pathways by 349.3% during the 2nd quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock worth $7,001,000 after buying an additional 901,050 shares during the period. Affinity Asset Advisors LLC lifted its holdings in COMPASS Pathways by 86.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock valued at $8,552,000 after purchasing an additional 477,868 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in COMPASS Pathways by 1,518.4% during the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock valued at $1,593,000 after purchasing an additional 247,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of COMPASS Pathways in the second quarter valued at about $664,000. Finally, SVB Wealth LLC purchased a new stake in shares of COMPASS Pathways during the first quarter worth about $443,000. Hedge funds and other institutional investors own 46.19% of the company’s stock.

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.