COMPASS Pathways (NASDAQ:CMPS) Given New $12.00 Price Target at Maxim Group

COMPASS Pathways (NASDAQ:CMPS) had its price target dropped by Maxim Group from $22.00 to $12.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Maxim Group’s target price would indicate a potential upside of 156.96% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group decreased their price objective on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. HC Wainwright restated a “buy” rating and set a $120.00 price target on shares of COMPASS Pathways in a report on Friday, August 23rd. 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 research report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $40.67.

COMPASS Pathways Trading Down 1.9 %

Shares of CMPS traded down $0.09 during trading hours on Friday, hitting $4.67. The company had a trading volume of 1,575,773 shares, compared to its average volume of 586,659. COMPASS Pathways has a 52-week low of $4.05 and a 52-week high of $12.75. The company has a quick ratio of 12.03, a current ratio of 12.03 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $6.66 and its 200 day moving average price is $7.09. The firm has a market cap of $319.38 million, a P/E ratio of -1.98 and a beta of 2.26.

COMPASS Pathways (NASDAQ:CMPS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same quarter in the previous year, the company posted ($0.62) earnings per share. On average, research analysts predict that COMPASS Pathways will post -2.35 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’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 value of $16,093,000.00. Following the transaction, the insider now directly owns 6,905,774 shares of the company’s stock, valued at approximately $41,779,932.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new position in shares of COMPASS Pathways during the second quarter valued at approximately $81,000. Green Alpha Advisors LLC purchased a new position in shares of COMPASS Pathways in the 3rd quarter worth $99,000. Kennedy Capital Management LLC purchased a new position in shares of COMPASS Pathways in the 1st quarter worth $139,000. Tidal Investments LLC grew its holdings in shares of COMPASS Pathways by 43.6% in the first 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, Chesapeake Capital Corp IL purchased a new stake in COMPASS Pathways during the first quarter valued at $189,000. 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.