Exploring Compass Therapeutics, Inc. (CMPX) Investor Profile: Who’s Buying and Why?

You're looking at Compass Therapeutics, Inc. (CMPX) and wondering why the smart money is piling into a clinical-stage biotech, especially with the stock hitting a new 52-week high of $5.05 recently. The answer is in the ownership structure: institutions now hold a commanding stake, with around 68.43% of the stock owned by hedge funds and other large investors, a clear vote of confidence that drove a staggering 196% one-year return. We're not talking about passive index funds either; the top nine shareholders alone control 53% of the company, and firms like Suvretta Capital Management, LLC recently boosted their position by over 97% to hold more than 14.1 million shares as of September 2025. So, are these major players-including BlackRock, Inc. and The Vanguard Group, Inc., who hold over 7 million shares each-betting on the strength of the CTX-009 and CTX-471 oncology pipeline, or is the consensus analyst price target of $12.90 simply too compelling to ignore given the current $869.74 million market capitalization?

Who Invests in Compass Therapeutics, Inc. (CMPX) and Why?

If you're looking at Compass Therapeutics, Inc. (CMPX), you're defintely not alone. The investor base is a classic biotech mix, dominated by savvy institutional money that's betting big on the oncology pipeline. The direct takeaway is this: institutional investors, primarily specialized hedge funds and biotech-focused asset managers, own a substantial chunk of the company-around 68.43% of the stock, as of late 2025.

This heavy institutional ownership tells you that the stock's movement is largely controlled by a few big players, not the retail crowd. Here's the quick math: with a market capitalization of roughly $869.74 million in November 2025, a small number of institutions wield significant influence.

Key Investor Types: The Institutional Powerhouse

The ownership structure of Compass Therapeutics, Inc. is a clear signal of its high-risk, high-reward profile. It's a clinical-stage biopharma company, so you don't see the massive, stable retail base of a mature, profitable firm. Instead, you see specialized funds taking concentrated positions.

• Hedge Funds and Specialist Biotech Funds: These are the most active and high-conviction investors. Firms like Tang Capital Management LLC are the largest shareholders, holding 17,176,510 shares, representing 9.99% ownership as of November 2025. Other notable names include Orbimed Advisors Llc and Suvretta Capital Management, Llc. They are the 'smart money' here, willing to stomach volatility for a massive upside.
• Passive Institutional Investors: This group includes giants like BlackRock, Inc. and Vanguard Group Inc. They hold the stock mainly through index funds and broad biotech Exchange-Traded Funds (ETFs). For example, BlackRock, Inc. held over 6.39 million shares as of July 2025. Their investment is typically passive and long-term, giving the stock a baseline of stability.
• Retail and Insiders: The remaining ownership is split between retail investors and company insiders. CEO Thomas J. Schuetz, for instance, beneficially owns 6,436,800 shares as of November 2025, which aligns his interests directly with shareholders. Retail investors, often drawn to the high-growth potential of oncology treatments, make up the rest.

Investment Motivations: Betting on the Pipeline

No one is buying Compass Therapeutics, Inc. for dividends-the company is pre-revenue and reinvesting heavily into Research & Development (R&D). Analysts forecast the company's 2025 earnings to be a net loss averaging -$98.09 million. The entire investment thesis is built on pipeline success, which is a classic growth play.

The main attraction is the lead product, tovecimig (CTX-009), a bispecific antibody. Top-line data from the COMPANION-002 trial in second-line biliary tract cancer (BTC) is expected in late Q1 2026. This is a huge catalyst. The U.S. market for second-line BTC therapy is estimated to be well over $1 billion annually, so a positive trial result would fundamentally change the company's valuation overnight. That's the prize everyone is chasing. Plus, the stock is getting a lot of analyst love, with a consensus 'Buy' rating and price targets as high as $30.00 per share, suggesting a potential upside of over 250%.

Investment Strategies: High-Conviction Value

The strategies employed by the major investors are a mix, but the dominant one is a high-conviction, long-term, value-based approach-but with a biotech twist. This is not traditional value investing looking for a low Price-to-Earnings (P/E) ratio; it's looking for value in the Discounted Cash Flow (DCF) of future drug revenue.

Hedge funds are often taking a Long-Term Holding strategy here, essentially treating their investment as venture capital (VC) for a public company. They buy a large stake, often through private placements or large open-market purchases, and hold until a major clinical milestone is hit or the company is acquired. The large stake held by Tang Capital, for example, is a clear sign of this strategy. They are not trading in and out daily.

However, the stock's volatility-it was up 109.31% year-to-date in early 2025-also attracts Short-Term Trading and momentum players. These traders jump in ahead of expected data readouts, like the Q1 2026 CTX-009 data, and will sell on the news, regardless of the outcome. This is why you see the stock price surge on analyst upgrades and institutional inflows, like the 20.6% boost in position by Victory Capital Management Inc. in Q3 2025.

To be fair, this is the nature of clinical-stage biotech: it's a binary bet. You're buying a lottery ticket on a breakthrough, but one where the odds are being constantly refined by clinical data. For a deeper dive into the company's current financial standing, you should read Breaking Down Compass Therapeutics, Inc. (CMPX) Financial Health: Key Insights for Investors.

Next Step: Portfolio Managers: Review your CMPX position size against the Q1 2026 data readout timeline and your fund's overall biotech exposure by the end of the week.

Institutional Ownership and Major Shareholders of Compass Therapeutics, Inc. (CMPX)

You're looking at Compass Therapeutics, Inc. (CMPX) and trying to figure out who the big money is betting on this clinical-stage oncology company. The direct takeaway is that institutional investors-the mutual funds, hedge funds, and asset managers-hold the vast majority of the company, and they have been aggressively increasing their positions in 2025.

As of the most recent filings, institutional investors own approximately 68.43% of Compass Therapeutics, Inc. stock. This high percentage is typical for a biotech firm with a promising but still-developing pipeline, indicating a strong belief in the long-term value of assets like their lead bispecific antibody candidate, CTX-009. That's a huge chunk of the company's $869.74 million market capitalization being managed by professional money.

Top Institutional Investors and Their Stakes

The largest shareholders are a mix of dedicated healthcare funds and generalist asset managers. It's important to look beyond the total number of shares and see who is making the biggest commitment. The top 10 list includes some very big names, which lends credibility, but also a few specialized venture capital (VC) firms that understand the biotech risk/reward profile deeply.

Here's a snapshot of some of the largest holders and their reported value, based on Q2 and Q3 2025 data:

• Tang Capital Management Llc
• Orbimed Advisors Llc
• Suvretta Capital Management, Llc
• Blackstone Group Inc
• Vivo Capital, LLC
• Enavate Sciences GP, LLC
• BlackRock, Inc.
• Vanguard Group Inc
• Adage Capital Partners Gp, L.l.c.
• MPM Oncology Impact Management LP

For a deeper dive into the company's financial footing, you should check out Breaking Down Compass Therapeutics, Inc. (CMPX) Financial Health: Key Insights for Investors.

Recent Shifts: Who's Buying and Why

The trend in 2025 has been clear: accumulation. Institutions are defintely increasing their stakes, which signals confidence in the company's clinical progress, particularly with CTX-009 and CTX-471. This buying pressure is a major reason the stock has performed well this year.

Here's the quick math on some of the notable increases from the third quarter of 2025:

The massive percentage increases, like the nearly 4,000% boost by Russell Investments Group Ltd., often come from smaller initial positions, but the sheer volume increase from giants like Vanguard Group Inc. (adding over 2.2 million shares) is what truly moves the needle. This accumulation suggests the market is pricing in a higher probability of success for their clinical trials, despite the consensus analyst forecast for a negative EPS of ($0.36) for the full 2025 fiscal year.

The Impact of Large Institutional Investors

In a clinical-stage biopharma like Compass Therapeutics, Inc., institutional investors play two critical roles: validation and volatility. Their presence is a stamp of approval, especially for a company that is still burning cash to fund research and development (R&D).

First, their large ownership-over two-thirds of the stock-gives Compass Therapeutics, Inc. a degree of credibility (social proof) in the investment community. It signals that professional analysts have done their due diligence on the drug pipeline and the management team. This validation helps attract other, smaller investors, which can keep the stock price buoyant.

Second, they are a double-edged sword for stock price stability. When a large institution like Vanguard Group Inc. or BlackRock, Inc. buys, it drives the price up. But if clinical trial data disappoints, or if a major funding round is needed that dilutes existing shares, a sudden wave of selling from just a few of these large funds can cause a sharp, brutal drop. This is the inherent risk of having such a concentrated ownership base in a development-stage company.

Their stake also gives them significant influence over corporate strategy, particularly concerning financing decisions and potential partnerships. They are effectively the company's biggest cheerleaders-and its toughest critics.

Key Investors and Their Impact on Compass Therapeutics, Inc. (CMPX)

The core takeaway here is that institutional money is heavily committed to Compass Therapeutics, Inc. (CMPX), owning over two-thirds of the company. This signals strong confidence in the clinical pipeline, especially the lead candidate, tovecimig, despite the current negative earnings profile.

As a seasoned analyst, I see this high institutional ownership-specifically 68.43% of the stock-as a critical validation point. These aren't small retail bets; these are large, sophisticated funds, including names you'd recognize like BlackRock, Inc. and Vanguard Group Inc., putting significant capital behind the company's oncology focus.

The institutional accumulation is defintely a bullish sign.

The Heavy Hitters: Who Owns the Largest Stakes?

When you look at the 228 institutional owners holding a combined total of over 157.7 million shares, a few names stand out as the anchor investors. These funds are betting big on Compass Therapeutics, Inc.'s future success in the biopharma space, particularly with its proprietary antibody therapeutics platform.

The largest shareholders are primarily specialist healthcare funds and major asset managers. For example, Tang Capital Management Llc, a fund known for its biotech focus, is a major player, as is Orbimed Advisors LLC. Their investment thesis is clearly centered on the value of the clinical-stage assets, not near-term revenue.

Here's a quick look at some of the largest institutional owners as of the 2025 fiscal year filings:

• Tang Capital Management Llc: Focused on significant ownership and potential influence.
• Orbimed Advisors LLC: A premier healthcare-focused investment firm.
• Suvretta Capital Management, LLC: Another large fund with a substantial stake.
• BlackRock, Inc. and Vanguard Group Inc.: Massive asset managers providing broad institutional backing.

Recent Moves: Following the Smart Money in 2025

The most telling sign of investor sentiment is what they're doing right now. The recent movement in 2025 shows a clear pattern of accumulation, especially from the largest holders, which is a strong signal for a clinical-stage company like Compass Therapeutics, Inc.

For instance, Tang Capital Management Llc recently increased its stake by a substantial 27.27%, bringing their total holdings to 17,176,510 shares, representing a 9.99% ownership of the company as of November 14, 2025. Similarly, Suvretta Capital Management, LLC nearly doubled its position, increasing its stake by 97.23% to 14,101,159 shares in August 2025.

This institutional buying is not just limited to the top funds. Even general asset managers are increasing exposure: Vanguard Group Inc. raised its position by 45.6% in the third quarter of 2025. Plus, it's worth noting the insider confidence: CEO Thomas Schuetz purchased 10,000 shares for $21,100 in May 2025, which is a small but important signal of leadership belief in the company's trajectory.

Investor Influence: Mapping Risk to Opportunity

In a clinical-stage biotech like Compass Therapeutics, Inc., institutional influence is less about activist demands and more about providing the capital and stability needed for long, expensive drug development. The sheer volume of institutional ownership, at over 68%, means these funds have a strong voice on major corporate finance decisions, such as public offerings and strategic partnerships.

The reason for this accumulation is clear: the pipeline momentum, specifically the progress of tovecimig in biliary tract cancer (BTC). Here's the quick math: the company reported an EPS beat for Q3 2025 ($-0.08$ vs. an estimated $-0.14$). While the net loss for Q3 2025 was wider at $14.3 million (up from $10.5 million a year prior), the market is looking past this operational loss because of the clinical data. The cash position is robust, expected to fund operations into 2027, which removes a major near-term financing risk for investors.

These large investors are essentially voting with their dollars that the clinical value of the pipeline, particularly the potential for a first Biologics License Application (BLA) filing in the second half of 2026, outweighs the current burn rate. Their buying activity acts as a floor for the stock price and provides the company with easier access to capital markets when needed. If you want to dive deeper into the financial health that is fueling this investor interest, you should read Breaking Down Compass Therapeutics, Inc. (CMPX) Financial Health: Key Insights for Investors.

Next Step: Review the Q4 2025 earnings call transcript to gauge management's tone on BLA timelines and partnership discussions, as this will be the next major catalyst for these large investors.

Market Impact and Investor Sentiment

You're looking at Compass Therapeutics, Inc. (CMPX) and wondering if the big money is still buying, and honestly, the answer is a resounding yes. The collective sentiment of major shareholders is defintely positive, driven by recent clinical progress and a strong cash position that buys them years of runway.

Institutional ownership-the hedge funds, mutual funds, and large pension funds-holds a significant 68.43% of the company's stock. That's a massive vote of confidence, especially for a clinical-stage biotech company where risk is usually high. When you see names like Vanguard Group Inc. and BlackRock, Inc. on the top holders list, it tells you the smart money is betting on the long-term pipeline, not just a quick trade.

The institutional accumulation in the third quarter of 2025 was particularly telling:

• Vanguard Group Inc. increased its stake by 45.6%, now holding 7,062,799 shares valued at $24,720,000.
• Monashee Investment Management LLC boosted its position by a staggering 657.6%, acquiring an additional 1,085,000 shares.

These aren't minor adjustments; these are large, strategic increases. They are buying the story: a clinical-stage oncology company with a long cash runway. You can't ignore that kind of conviction.

Recent Market Reactions to Ownership Shifts

The stock market has been a roller coaster for Compass Therapeutics, Inc. this year, but the recent trend is clearly up, mirroring the institutional buying. In the two weeks leading up to mid-November 2025, the stock price surged by 30.75%, hitting a new 52-week high of $5.05. This rally was fueled by the strong Q3 2025 earnings report, where the company reported an EPS of -$0.08, handily beating the consensus estimate of -$0.14.

But to be fair, the stock isn't immune to bad news. Earlier in April 2025, the stock plummeted by -14.47% following a weak Q1 report and a drug pipeline setback. That's biotech volatility for you. The market reacted swiftly to the negative news, but the subsequent institutional accumulation shows that the big players viewed that dip as a buying opportunity, not a reason to panic. The company's market capitalization sits around $869.74 million as of mid-November 2025.

Analyst Perspectives and the Valuation Gap

The analyst community is generally bullish, which tracks with the institutional buying, but their price targets show a massive divergence in valuation-a sign of the inherent risk in a clinical-stage company. The consensus rating from eleven research firms is a Moderate Buy, with an average 1-year price target of $12.90.

Here's the quick math on the extremes:

A target of $30.00 from D. Boral Capital, updated in November 2025, implies an upside of over 500% from the current trading price. That analyst is betting heavily on the success of the lead candidates like tovecimig (a DLL4 and VEGF-A bispecific antibody) and CTX-10726. On the flip side, you still have a 'Sell' rating from Weiss Ratings, which highlights the risk of negative earnings and a long road to profitability.

What this estimate hides is the binary nature of biotech: clinical trial success can send the stock to $30.00, but a failure could easily drop it back toward its 52-week low of $1.27. The key for investors is the company's cash position. As of September 30, 2025, Compass Therapeutics, Inc. had $220 million in cash and marketable securities, which management projects will fund operations into 2028. That is a crucial buffer, giving them time to execute their pipeline without immediate dilution risk. For a deeper dive into the balance sheet, you should read Breaking Down Compass Therapeutics, Inc. (CMPX) Financial Health: Key Insights for Investors.

The major investors are essentially buying that time and the potential of the pipeline. They're comfortable with the Q3 2025 net loss of $14.3 million because the R&D expenses were up 49% to $12.8 million, showing money is actively being spent to advance the drugs. That's a good use of capital right now.