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Sunday, September 25, 2022

COMPASS Pathways (NASDAQ:CMPS) Raised to “Hold” at Zacks Investment Research



Zacks Investment Research upgraded shares of COMPASS Pathways (NASDAQ:CMPSGet Rating) from a sell rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “COMPASS Pathways plc is a mental health care company. It operates principally in New York, USA. COMPASS Pathways plc is headquartered in London, UK. “

Separately, Canaccord Genuity Group dropped their target price on COMPASS Pathways from $80.00 to $78.00 and set a buy rating on the stock in a report on Monday, February 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $74.89.

Shares of CMPS opened at $9.80 on Monday. The company has a market capitalization of $411.80 million, a price-to-earnings ratio of -5.51 and a beta of 3.34. COMPASS Pathways has a fifty-two week low of $9.06 and a fifty-two week high of $49.51. The business’s 50-day moving average is $12.61 and its 200-day moving average is $21.04.

COMPASS Pathways (NASDAQ:CMPSGet Rating) last issued its earnings results on Thursday, February 24th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.13). During the same quarter in the prior year, the business posted ($0.52) earnings per share. On average, equities analysts predict that COMPASS Pathways will post -2.85 earnings per share for the current year.

In other COMPASS Pathways news, Director David Y. Norton sold 3,384 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $12.48, for a total transaction of $42,232.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ekaterina Malievskaia sold 6,372 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $12.48, for a total value of $79,522.56. The disclosure for this sale can be found here.

A number of institutional investors have recently made changes to their positions in CMPS. Morgan Stanley boosted its position in COMPASS Pathways by 99.9% during the second quarter. Morgan Stanley now owns 96,730 shares of the company’s stock worth $3,690,000 after purchasing an additional 48,343 shares during the period. Commonwealth Equity Services LLC boosted its position in COMPASS Pathways by 22.1% during the third quarter. Commonwealth Equity Services LLC now owns 8,615 shares of the company’s stock worth $257,000 after purchasing an additional 1,562 shares during the period. Advisor Group Holdings Inc. boosted its position in COMPASS Pathways by 17.5% during the third quarter. Advisor Group Holdings Inc. now owns 1,507 shares of the company’s stock worth $45,000 after purchasing an additional 224 shares during the period. Truist Financial Corp bought a new stake in COMPASS Pathways during the third quarter worth approximately $505,000. Finally, AGF Investments Inc. boosted its position in COMPASS Pathways by 937,652.9% during the third quarter. AGF Investments Inc. now owns 637,672 shares of the company’s stock worth $19,047,000 after purchasing an additional 637,604 shares during the period. 17.86% of the stock is owned by hedge funds and other institutional investors.

About COMPASS Pathways (Get Rating)

COMPASS Pathways plc operates as a mental health care company primarily in the United Kingdom and the United States. It develops COMP360, a psilocybin therapy that has completed Phase IIb clinical trials for the treatment of treatment-resistant depression; and is in Phase II clinical trials for the treatment of post-traumatic stress disorder.

Further Reading

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Analyst Recommendations for COMPASS Pathways (NASDAQ:CMPS)



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