Compass Pathways (NASDAQ:CMPS) Sees Unusually-High Trading Volume – What’s Next?

Shares of Compass Pathways PLC Sponsored ADR (NASDAQ:CMPS) saw strong trading volume on Thursday . 7,108,036 shares were traded during trading, an increase of 155% from the previous session’s volume of 2,787,246 shares.The stock last traded at $7.9980 and had previously closed at $8.45.

Analyst Upgrades and Downgrades

CMPS has been the subject of several analyst reports. Lifesci Capital upgraded shares of Compass Pathways to a “strong-buy” rating in a research note on Thursday, February 12th. Compass Point set a $15.00 price objective on Compass Pathways in a research report on Thursday, February 12th. Morgan Stanley boosted their target price on Compass Pathways from $11.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group raised their price target on Compass Pathways from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Pathways in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Compass Pathways Trading Down 3.3%

The firm has a market cap of $784.20 million, a P/E ratio of -3.01 and a beta of 1.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a fifty day simple moving average of $6.80 and a 200 day simple moving average of $5.91.

Institutional Investors Weigh In On Compass Pathways

Institutional investors and hedge funds have recently modified their holdings of the stock. RTW Investments LP grew its stake in Compass Pathways by 0.6% during the fourth quarter. RTW Investments LP now owns 8,757,390 shares of the company’s stock valued at $60,426,000 after acquiring an additional 50,000 shares in the last quarter. Nantahala Capital Management LLC lifted its position in shares of Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock worth $11,704,000 after buying an additional 1,350,698 shares in the last quarter. Millennium Management LLC increased its stake in Compass Pathways by 39.9% in the 3rd quarter. Millennium Management LLC now owns 2,715,872 shares of the company’s stock worth $15,562,000 after acquiring an additional 774,090 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Compass Pathways by 152.9% in the fourth quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock valued at $17,447,000 after purchasing an additional 1,529,013 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Compass Pathways by 1.6% during the fourth quarter. ARK Investment Management LLC now owns 2,156,012 shares of the company’s stock valued at $14,876,000 after purchasing an additional 34,894 shares in the last quarter. Institutional investors own 46.19% of the company’s stock.

About Compass Pathways

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.