Acuta Capital Partners LLC Takes $2.44 Million Position in COMPASS Pathways plc (NASDAQ:CMPS)

Acuta Capital Partners LLC purchased a new position in shares of COMPASS Pathways plc (NASDAQ:CMPS) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 386,500 shares of the company’s stock, valued at approximately $2,435,000. COMPASS Pathways accounts for 2.0% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Logos Global Management LP raised its position in 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 last quarter. Rosalind Advisors Inc. raised its holdings in COMPASS Pathways by 6.5% during the third quarter. Rosalind Advisors Inc. now owns 781,423 shares of the company’s stock worth $4,923,000 after purchasing an additional 47,423 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $1,593,000 after purchasing an additional 247,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in COMPASS Pathways by 34.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 148,134 shares of the company’s stock valued at $933,000 after purchasing an additional 38,145 shares during the period. Finally, Propel Bio Management LLC purchased a new stake in COMPASS Pathways in the 3rd quarter valued at approximately $504,000. 46.19% of the stock is currently owned by hedge funds and other institutional investors.

COMPASS Pathways Price Performance

Shares of NASDAQ CMPS opened at $4.56 on Thursday. The company has a current ratio of 8.91, a quick ratio of 8.91 and a debt-to-equity ratio of 0.15. The stock has a market cap of $312.00 million, a price-to-earnings ratio of -2.07 and a beta of 2.29. The company’s 50-day moving average price is $5.74 and its 200 day moving average price is $6.61. COMPASS Pathways plc has a 52 week low of $4.05 and a 52 week high of $12.75.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.04. During the same quarter last year, the business earned ($0.67) earnings per share. As a group, research analysts forecast that COMPASS Pathways plc will post -2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CMPS shares. HC Wainwright cut their target price on COMPASS Pathways from $120.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada decreased their target price on shares of COMPASS Pathways from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Maxim Group cut their price target on shares of COMPASS Pathways from $22.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Monday, September 9th. Finally, Canaccord Genuity Group dropped their target price on shares of COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $30.67.

Insiders Place Their Bets

In other COMPASS Pathways news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were 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 in the company, valued at approximately $41,779,932.70. This represents a 27.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.25% of the stock is currently owned by company insiders.

COMPASS Pathways 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.