COMPASS Pathways (NASDAQ:CMPS) Now Covered by Analysts at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of COMPASS Pathways (NASDAQ:CMPS) in a research note released on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $23.00 price objective on the stock.

A number of other research firms have also weighed in on CMPS. HC Wainwright reiterated a buy rating and set a $120.00 target price on shares of COMPASS Pathways in a report on Monday, May 13th. Cantor Fitzgerald reiterated an overweight rating on shares of COMPASS Pathways in a report on Friday, June 21st. Finally, Morgan Stanley began coverage on shares of COMPASS Pathways in a report on Monday, April 1st. They set an overweight rating and a $30.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $43.33.

COMPASS Pathways Stock Performance

NASDAQ CMPS opened at $8.03 on Tuesday. The company has a 50-day simple moving average of $6.92 and a two-hundred day simple moving average of $8.63. The company has a quick ratio of 15.23, a current ratio of 15.23 and a debt-to-equity ratio of 0.12. COMPASS Pathways has a 12-month low of $5.01 and a 12-month high of $12.75. The firm has a market cap of $549.09 million, a price-to-earnings ratio of -3.39 and a beta of 2.27.

COMPASS Pathways (NASDAQ:CMPS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.03). On average, equities analysts forecast that COMPASS Pathways will post -2.24 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder George Jay Goldsmith sold 9,621 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $8.29, for a total value of $79,758.09. Following the completion of the transaction, the insider now directly owns 3,966,052 shares of the company’s stock, valued at $32,878,571.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.25% of the stock is owned by insiders.

Hedge Funds Weigh In On COMPASS Pathways

A number of institutional investors have recently bought and sold shares of CMPS. Quest Partners LLC bought a new position in COMPASS Pathways in the fourth quarter worth about $33,000. Blue Trust Inc. bought a new position in shares of COMPASS Pathways during the second quarter valued at approximately $81,000. Conservest Capital Advisors Inc. bought a new position in shares of COMPASS Pathways during the fourth quarter valued at approximately $91,000. EWA LLC bought a new position in shares of COMPASS Pathways during the fourth quarter valued at approximately $107,000. Finally, Kennedy Capital Management LLC bought a new position in shares of COMPASS Pathways during the first quarter valued at approximately $139,000. 46.19% of the stock is owned by institutional investors.

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.