Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.00.
Several research analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Acumen Pharmaceuticals in a research note on Thursday, September 17th. Wall Street Zen downgraded shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Citigroup increased their price target on Acumen Pharmaceuticals from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. BTIG Research reiterated a “buy” rating and set a $8.00 price objective on shares of Acumen Pharmaceuticals in a research note on Wednesday, September 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, October 2nd.
Get Our Latest Report on Acumen Pharmaceuticals
Institutional Investors Weigh In On Acumen Pharmaceuticals
A number of institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC increased its holdings in Acumen Pharmaceuticals by 248.7% in the 2nd quarter. Squarepoint Ops LLC now owns 52,351 shares of the company’s stock worth $140,000 after acquiring an additional 37,336 shares in the last quarter. Spark Investment Management LLC acquired a new position in Acumen Pharmaceuticals in the 2nd quarter valued at $39,000. Two Sigma Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $32,000. Bank of America Corp DE acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $734,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Acumen Pharmaceuticals in the second quarter worth about $5,637,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.
Acumen Pharmaceuticals Price Performance
NASDAQ ABOS opened at $1.69 on Monday. Acumen Pharmaceuticals has a 52-week low of $1.50 and a 52-week high of $3.60. The firm’s 50 day moving average price is $2.57 and its 200-day moving average price is $2.48. The company has a market cap of $122.22 million, a PE ratio of -1.04 and a beta of 0.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.47 and a current ratio of 2.47.
Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). Sell-side analysts forecast that Acumen Pharmaceuticals will post -1.60 EPS for the current fiscal year.
About Acumen Pharmaceuticals
Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease. The company’s research is based on the amyloid-beta oligomer hypothesis, which holds that soluble forms of amyloid-beta may contribute to the synaptic dysfunction and neurodegeneration associated with the disease.
Acumen’s lead product candidate is sabirnetug, also known as ACU193, an investigational humanized monoclonal antibody designed to selectively target toxic soluble amyloid-beta oligomers while seeking to avoid binding to monomeric amyloid-beta.
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