Canaccord Genuity Group has initiated coverage on shares of Compass Therapeutics (NASDAQ:CMPX), providing investors with a buy rating and a target price of $10.00. This assessment was delivered in a research report released on Wednesday, November 5, 2023, according to MarketBeat Ratings.
Other financial firms have also recently analyzed Compass Therapeutics. Notably, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on November 8. D. Boral Capital reaffirmed a “buy” rating and set a significantly higher target price of $30.00. Meanwhile, Citigroup began coverage with an “outperform” rating, while Weiss Ratings maintained a “sell (d-)” rating as of October 8. Additionally, Cantor Fitzgerald has recently initiated coverage with an “overweight” rating.
Current Analyst Outlook
According to data from MarketBeat.com, analysts provide a mixed outlook for Compass Therapeutics. One analyst has rated the stock as a Strong Buy, while thirteen have given it a Buy rating, and one has issued a Sell rating. The overall average rating for the stock is categorized as a “Moderate Buy,” with a consensus price target of $12.23.
On November 5, Compass Therapeutics reported its quarterly earnings, showing an earnings per share (EPS) of ($0.08), surpassing the consensus estimate of ($0.14) by $0.06. Analysts project that the company will post earnings of ($0.36) per share for the current fiscal year.
Institutional Investment Activity
Institutional investors have actively adjusted their holdings in Compass Therapeutics. CIBC Bancorp USA Inc. acquired a new stake valued at approximately $37,000 during the third quarter. Vivo Capital LLC notably increased its holdings by 57.9%, now owning 9,545,466 shares worth about $33.4 million after acquiring an additional 3,502,000 shares.
Millennium Management LLC expanded its position by 280.4%, now holding 3,237,572 shares valued at approximately $11.3 million. Other notable moves include Focus Partners Wealth, which raised its holdings by 16.2%, and Citadel Advisors LLC, which increased its stake by a remarkable 1,981.2%, acquiring 233,271 shares worth $816,000.
Currently, institutional investors own 68.43% of Compass Therapeutics stock, reflecting significant interest in the biopharmaceutical sector.
Compass Therapeutics, Inc. focuses on developing antibody-based therapeutics for oncology and other serious diseases in the United States. Their lead candidates include CTX-009, a bispecific antibody targeting critical pathways involved in tumor growth, and CTX-471, an IgG4 monoclonal antibody that stimulates immune responses.
As the company continues to navigate the competitive landscape of biopharmaceuticals, market analysts and institutional investors will likely keep a close eye on its performance and ongoing developments.
