Bulletin
Investor Alert

Market Pulse Archives

Sept. 18, 2020, 12:33 p.m. EDT

Compass Pathways' stock debuts with a rally, as the first trade was 38% above the IPO price

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    COMPASS Pathways PLC ADR (CMPS)
  • X
    Snowflake Inc. (SNOW)
  • X
    Renaissance IPO ETF (IPO)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Compass Pathways PLC /zigman2/quotes/204069138/composite CMPS +12.25% pointed north out of the gate, as the first trade was 37.6% above the initial public offering price. The U.K.-based mental health care company said Friday that it's upsized IPO priced at $17 share, above the expected range of $14 to $16 a share. The stock's first trade on the Nasdaq was at $23.40 at 12:30 p.m. Eastern for 277,349 shares. The company sold 7.5 million shares in the IPO, up from previous expectations of 6.7 million shares, to raise $127.5 million. The company was valued at about $578.1 million at the IPO price. The stock has added to gains since it opened, to trade up 44%. Compass's bullish debut comes at the end of a busy week for IPOs, which was highlighted by Snowflake Inc.'s /zigman2/quotes/220991541/composite SNOW -10.78% red-hot debut earlier this week. The Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -0.22% has rallied 20.1% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.34% has gained 6.8%.

/zigman2/quotes/204069138/composite
US : U.S.: Nasdaq
$ 38.39
+4.19 +12.25%
Volume: 2.16M
Oct. 23, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.23 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/220991541/composite
US : U.S.: NYSE
$ 265.05
-32.04 -10.78%
Volume: 5.62M
Oct. 23, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$82.20 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 54.48
-0.12 -0.22%
Volume: 238,570
Oct. 23, 2020 4:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,465.39
+11.90 +0.34%
Volume: 2.16B
Oct. 23, 2020 5:15p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.