HC Wainwright Lowers COMPASS Pathways (NASDAQ:CMPS) Price Target to $60.00

COMPASS Pathways (NASDAQ:CMPS) had its target price dropped by equities research analysts at HC Wainwright from $120.00 to $60.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other research firms also recently issued reports on CMPS. Canaccord Genuity Group cut 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. Maxim Group cut their price objective on COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada cut their price objective on COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, COMPASS Pathways currently has a consensus rating of “Buy” and a consensus price target of $30.67.

COMPASS Pathways Price Performance

Shares of COMPASS Pathways stock opened at $4.75 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 company’s 50-day moving average price is $6.61 and its two-hundred day moving average price is $7.05. COMPASS Pathways has a 52 week low of $4.05 and a 52 week high of $12.75. The stock has a market cap of $324.84 million, a PE ratio of -2.16 and a beta of 2.29.

COMPASS Pathways (NASDAQ:CMPS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same period in the previous year, the company posted ($0.62) EPS. As a group, sell-side analysts anticipate that COMPASS Pathways will post -2.35 EPS for the current fiscal year.

Insider Buying and Selling at COMPASS Pathways

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways stock in a transaction dated 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 transaction, the insider now 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.25% of the company’s stock.

Institutional Investors Weigh In On COMPASS Pathways

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. bought a new stake in shares of COMPASS Pathways during the 2nd quarter worth about $81,000. Green Alpha Advisors LLC bought a new stake in shares of COMPASS Pathways during the 3rd quarter worth about $99,000. Kennedy Capital Management LLC bought a new stake in shares of COMPASS Pathways during the 1st quarter worth about $139,000. Tidal Investments LLC boosted its stake in shares of 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 in the last quarter. Finally, Fore Capital LLC bought a new stake in shares of COMPASS Pathways during the 2nd quarter worth about $181,000. Institutional investors and hedge funds 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.