Canaccord Genuity Group has initiated coverage of **Compass Therapeutics** (NASDAQ: CMPX), issuing a *buy* rating with a target price of **$10.00**. This information was disclosed in a research report sent to investors on **November 5, 2023**. The report is part of a broader trend among analysts as several firms have recently updated their assessments of the biotechnology company.
In addition to Canaccord Genuity’s new rating, **Citigroup** has also begun coverage of Compass Therapeutics, assigning an *outperform* rating. Notably, **D. Boral Capital** reaffirmed a *buy* rating and set a significantly higher target price of **$30.00** for the stock. Meanwhile, **Wall Street Zen** upgraded Compass Therapeutics from a *sell* rating to a *hold* rating, reflecting a shift in sentiment among analysts. Conversely, **Weiss Ratings** maintained a *sell (d-)* rating, indicating a more cautious outlook.
Analysts have provided a mixed view of the stock. Presently, one equity research analyst rates Compass Therapeutics as a *Strong Buy*, while thirteen others have given it a *Buy* rating. Only one analyst has assigned a *Sell* rating. As per data from **MarketBeat.com**, the average rating for the company stands at *Moderate Buy*, with an average price target of **$12.23**.
Latest Earnings and Institutional Activity
Compass Therapeutics recently released its quarterly earnings, reporting an earnings per share (EPS) of **($0.08)**, which surpassed analysts’ expectations of **($0.14)** by **$0.06**. This positive performance comes as analysts forecast an EPS of **($0.36)** for the current fiscal year, suggesting potential for improvement in future quarters.
Institutional investors are also showing interest in Compass Therapeutics. For example, **CIBC Bancorp USA Inc.** acquired a new stake in the company valued at approximately **$37,000** during the third quarter of 2023. Notably, **Vivo Capital LLC** increased its holdings by **57.9%**, now owning **9,545,466** shares worth about **$33.4 million** after acquiring an additional **3.5 million** shares.
Additionally, **Millennium Management LLC** raised its position by a staggering **280.4%**, bringing its total to **3,237,572** shares valued at approximately **$11.3 million**. **Focus Partners Wealth** and **Citadel Advisors LLC** also increased their stakes in Compass Therapeutics, with Citadel Advisors significantly boosting its holdings by **1,981.2%**.
Overall, institutional investors control approximately **68.43%** of the company’s stock, indicating strong institutional confidence in its potential.
About Compass Therapeutics
**Compass Therapeutics, Inc.** is a clinical-stage biopharmaceutical company focused on oncology, developing antibody-based therapeutics aimed at treating various human diseases. The company’s lead product candidates include **CTX-009**, a bispecific antibody that inhibits Delta-like ligand 4 and vascular endothelial growth factor A signaling pathways, both critical for tumor growth and vascularization. Another key candidate is **CTX-471**, an IgG4 monoclonal antibody acting as an agonist of CD137, a vital co-stimulatory receptor on immune cells.
As the market responds to these developments, Compass Therapeutics remains an intriguing player in the biotechnology sector, drawing attention from both analysts and institutional investors alike.
