Short Interest in COMPASS Pathways plc (NASDAQ:CMPS) Declines By 9.1%

01 Nov 2024, 17:24 by Tristan Rich · The Markets Daily

COMPASS Pathways plc (NASDAQ:CMPS – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 5,810,000 shares, a decline of 9.1% from the September 30th total of 6,390,000 shares. Based on an average trading volume of 507,200 shares, the days-to-cover ratio is currently 11.5 days.

Insider Activity

In related news, major shareholder Life Sciences N.V. Atai sold 2,660,000 shares of COMPASS Pathways 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 sale, the insider now directly owns 6,905,774 shares in the company, valued at $41,779,932.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On COMPASS Pathways

A number of large investors have recently modified their holdings of CMPS. Logos Global Management LP boosted its position in COMPASS Pathways by 349.3% in the second quarter. Logos Global Management LP now owns 1,159,030 shares of the company’s stock valued at $7,001,000 after buying an additional 901,050 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in shares of COMPASS Pathways by 86.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,027,868 shares of the company’s stock valued at $8,552,000 after purchasing an additional 477,868 shares during the period. Rosalind Advisors Inc. grew its position 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 buying an additional 47,423 shares in the last quarter. Renaissance Technologies LLC grew its position 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 buying an additional 247,500 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of COMPASS Pathways by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 148,134 shares of the company’s stock worth $933,000 after purchasing an additional 38,145 shares in the last quarter. 46.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMPS. Canaccord Genuity Group lowered 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. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of COMPASS Pathways in a research note on Friday, August 23rd. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of COMPASS Pathways in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of COMPASS Pathways in a research note on Monday, September 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, COMPASS Pathways has an average rating of “Buy” and a consensus price target of $47.40.

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COMPASS Pathways Price Performance

CMPS traded down $0.16 during midday trading on Friday, reaching $4.60. 1,248,284 shares of the company’s stock were exchanged, compared to its average volume of 585,292. The firm has a market capitalization of $314.59 million, a price-to-earnings ratio of -2.06 and a beta of 2.26. The company has a quick ratio of 12.03, a current ratio of 12.03 and a debt-to-equity ratio of 0.13. COMPASS Pathways has a one year low of $4.05 and a one year high of $12.75. The business has a 50-day simple moving average of $6.66 and a two-hundred day simple moving average of $7.09.

COMPASS Pathways (NASDAQ:CMPS – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). During the same quarter in the prior year, the company posted ($0.62) EPS. As a group, research analysts predict that COMPASS Pathways will post -2.35 EPS for the current year.

COMPASS Pathways Company Profile

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