Canaccord Genuity Group has commenced research coverage on Compass Therapeutics (NASDAQ:CMPX) by issuing a buy rating and setting a target price of $10.00. This announcement was made in a report distributed to investors on November 5, 2023. The initiation of coverage reflects growing interest in the biopharmaceutical company, which focuses on antibody-based therapeutics.
Several other financial institutions have recently provided their assessments of Compass Therapeutics. On the same day, D. Boral Capital reissued a buy rating with a significantly higher target price of $30.00. In a different report, Citigroup also began coverage and assigned an outperform rating to the stock. Conversely, Weiss Ratings downgraded the company’s rating to “sell (d-)” on October 8, indicating a divergence in analyst opinions.
As of now, one equities research analyst has classified the stock with a strong buy rating, thirteen have issued buy ratings, and one has rated it a sell. According to data from MarketBeat.com, Compass Therapeutics holds an average rating of “Moderate Buy” with an average target price of $12.23.
Recent Financial Performance and Analyst Forecasts
Compass Therapeutics reported its quarterly earnings data on November 5, 2023, revealing an earnings per share (EPS) loss of ($0.08). This result surpassed analysts’ expectations, which had forecasted a loss of ($0.14). Looking ahead, analysts predict that the company will report an EPS of ($0.36) for the current year.
Institutional investors have also been adjusting their stakes in Compass Therapeutics. For instance, CIBC Bancorp USA Inc. acquired a new stake valued at approximately $37,000 in the third quarter. Furthermore, Vivo Capital LLC increased its holdings by 57.9%, now owning over 9.5 million shares worth about $33.4 million after acquiring an additional 3.5 million shares. Notably, Millennium Management LLC expanded its position by an impressive 280.4%, acquiring more than 3.2 million shares valued at around $11.3 million.
Other institutional changes include Focus Partners Wealth, which raised its holdings by 16.2%, and Citadel Advisors LLC, which saw a remarkable increase of 1,981.2% in its ownership, now holding around 233,271 shares valued at $816,000. Collectively, institutional investors now own approximately 68.43% of Compass Therapeutics’ stock.
About Compass Therapeutics
Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on oncology. It is actively developing innovative antibody-based therapeutics aimed at treating various human diseases. Among its lead product candidates are CTX-009, a bispecific antibody designed to block Delta-like ligand 4, and CTX-471, an IgG4 monoclonal antibody that acts as an agonist of CD137, a critical co-stimulatory receptor on immune cells.
With recent ratings and coverage shifts, Compass Therapeutics is garnering attention in the investment community, signaling potential growth opportunities for investors interested in the biotechnology sector.
