CMPS Stock Surges More than 20% on the Back of Bullish Citron Research Report

Make sure to read this recent blog on Compass Pathways too: Canaccord Genuity Report Projects $80 Price Target for Compass Pathways

Shares of Peter Thiel backed COMPASS Pathways (NASAQ: CMPS) skyrocketed today, climbing more than 20% during intraday trading on Monday, October 5th, 2020. The appreciation in share price led to COMPASS’ market cap briefly passing $1.5 billion before slipping back down later in the day. The surge is on the back of a bullish Citron Research Report published by prolific short-seller Andrew Left. Considering how rarely Mr. Left goes long on a stock, it’s no surprise investors are taking notice. This guide explores this exciting market development by COMPASS and the Citron report that catalyzed it.

Renowned Skeptic’s Endorsement of COMPASS Fuels Stock Surge 

Renowned skeptic and short-seller Andrew Left and the team at Citron Research don’t endorse long-term plays on stocks very often. So when they do, the market certainly takes notice. In a recently published report, Left describes COMPASS Pathways as “the most compelling IPO of the year whose significance to humanity has the potential to be a generational stock”. As a result, the largest publicly traded psychedelic company’s shares surged today, marking a pivotal point for the psychedelic renaissance. While the stock climbed more than 21% on Monday, it has since cooled to a gain of  approximately 13% on the day at the time of publication. The notable short-seller believes that the stock could soon hit $100 a share, suggesting a market capitalization of approximately $3.5 billion. So what makes COMPASS Pathways so appealing to Mr. Left and investors at large? 

The Microdose team reached out to notable biotech, blockchain and psychedelics entrepreneur, Christian Angermayer, for comment about his recent CMPS feature. While he declined to immediately comment due to stock market rules requiring a “quiet period” right now, he agreed to do an interview after October 15th. Make sure to follow this blog and stay tuned to Microdose Psychedelic Insights for this expert insight coming soon!

Check out these 3 Psychedelic Stocks Surging Due to Increased Public Market Interest!

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How COMPASS Pathways is Poised to Revolutionize Healthcare

The COMPASS Pathways stock surge today is a clear indicator the market is paying close attention to emerging psychedelic space and it’s powerful implications on mental healthcare. Having received the coveted breakthrough status from the FDA, they are utilizing a patented synthetic version of psilocybin (the active ingredient in “magic mushrooms”) to target treatment-resistant depression (TRD) market of over 100 million people who have been unsuccessful with two or more existing treatments. Current research developments in the space have shown psilocybin to be efficacious in the treatment of a variety of difficult conditions, including severe depression, end-of-life anxiety and addiction. In a time where the need for novel solutions to mental illness are greater than ever before, psychedelic industry pioneers like COMPASS Pathways are stepping up to the challenge–and the market is reacting positively.

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Looking Ahead to the Intersection of Psychedelic Medicine, Mental Health & Markets   

In conjunction with the Citron research report and CMPS stock surge, today is the start of Mental Illness Awareness Week. The intersection of these events has massive implications on the future of psychedelic medicine, mental healthcare and capital markets. Other companies making a big impact on the space now are Field Trip Health and HAVN Life–both of which are making significant contributions to psychedelic-based mental health therapeutics as well. As innovative firms like COMPASS Pathways continue to challenge the standard of existing therapies, capital markets and the world at large stand to make remarkable progress as the psychedelic renaissance continues to unfold.

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Microdose Psychedelic Insights

Your Guide to the Business of Psychedelics. Our mission is to shift the world's perception of psychedelic medicine.