COMPASS Pathways plc (NASDAQ:CMPS) Short Interest Down 11.9% in July

COMPASS Pathways plc (NASDAQ:CMPS) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,850,000 shares, a decrease of 11.9% from the July 15th total of 4,370,000 shares. Based on an average daily volume of 415,500 shares, the days-to-cover ratio is currently 9.3 days.

Institutional Investors Weigh In On COMPASS Pathways

A number of institutional investors have recently added to or reduced their stakes in CMPS. Logos Global Management LP raised its stake in shares of COMPASS Pathways by 349.3% in 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 in the last quarter. Renaissance Technologies LLC raised its position in COMPASS Pathways by 1,518.4% in the second quarter. Renaissance Technologies LLC now owns 263,800 shares of the company’s stock worth $1,593,000 after acquiring an additional 247,500 shares in the last quarter. Fore Capital LLC bought a new stake in COMPASS Pathways in the second quarter worth about $181,000. AdvisorShares Investments LLC lifted its holdings in COMPASS Pathways by 13.5% in the 2nd quarter. AdvisorShares Investments LLC now owns 60,882 shares of the company’s stock valued at $362,000 after acquiring an additional 7,243 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of COMPASS Pathways during the 2nd quarter valued at about $664,000. 46.19% of the stock is currently owned by institutional investors and hedge funds.

COMPASS Pathways Stock Performance

Shares of NASDAQ CMPS traded up $0.07 during midday trading on Monday, reaching $7.05. 240,400 shares of the company traded hands, compared to its average volume of 546,294. The company has a market cap of $482.09 million, a price-to-earnings ratio of -2.93 and a beta of 2.27. The stock has a 50-day moving average price of $6.81 and a 200 day moving average price of $8.38. COMPASS Pathways has a 52 week low of $5.01 and a 52 week high of $12.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 15.23 and a quick ratio of 15.23.

COMPASS Pathways (NASDAQ:CMPS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). During the same period in the prior year, the company posted ($0.62) EPS. Sell-side analysts anticipate that COMPASS Pathways will post -2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMPS has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price objective on COMPASS Pathways from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of COMPASS Pathways in a report on Friday, June 21st. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of COMPASS Pathways in a report on Wednesday, July 31st. Finally, Royal Bank of Canada started coverage on shares of COMPASS Pathways in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $23.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, COMPASS Pathways has a consensus rating of “Buy” and an average target price of $47.40.

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.