Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) was downgraded by equities researchers at Cantor Fitzgerald from a “strong-buy” rating to a “strong sell” rating in a research note issued on Friday, Zacks reports.
Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of Acumen Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $1.00 target price for the company. in a report on Friday. Stifel Nicolaus downgraded shares of Acumen Pharmaceuticals from a “buy” rating to a “hold” rating and set a $1.00 price target on the stock. in a research note on Friday. Weiss Ratings lowered shares of Acumen Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. BTIG Research reiterated a “buy” rating and issued a $8.00 price target on shares of Acumen Pharmaceuticals in a report on Wednesday, September 16th. Finally, Wall Street Zen cut shares of Acumen Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 17th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.50.
Check Out Our Latest Research Report on ABOS
Acumen Pharmaceuticals Stock Down 90.8%
Shares of NASDAQ:ABOS opened at $0.21 on Friday. The company has a current ratio of 1.89, a quick ratio of 2.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $15.19 million, a price-to-earnings ratio of -0.14 and a beta of 0.33. The stock’s 50-day moving average price is $2.41 and its two-hundred day moving average price is $2.49. Acumen Pharmaceuticals has a 12-month low of $0.21 and a 12-month high of $3.60.
Acumen Pharmaceuticals (NASDAQ:ABOS – Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. On average, research analysts forecast that Acumen Pharmaceuticals will post -1.51 EPS for the current year.
Institutional Trading of Acumen Pharmaceuticals
Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Acumen Pharmaceuticals during the 2nd quarter worth approximately $6,649,000. ADAR1 Capital Management LLC purchased a new position in Acumen Pharmaceuticals in the second quarter valued at approximately $5,637,000. Bank of America Corp DE acquired a new position in Acumen Pharmaceuticals during the second quarter valued at approximately $734,000. Bank of New York Mellon Corp acquired a new position in Acumen Pharmaceuticals during the second quarter valued at approximately $332,000. Finally, Dimensional Fund Advisors LP lifted its position in Acumen Pharmaceuticals by 144.1% during the first quarter. Dimensional Fund Advisors LP now owns 119,756 shares of the company’s stock valued at $282,000 after buying an additional 70,694 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.
Acumen Pharmaceuticals Company Profile
Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease and other neurodegenerative disorders. The company’s research centers on amyloid beta oligomers, toxic protein assemblies that Acumen believes contribute to the development and progression of Alzheimer’s disease.
Acumen’s lead product candidate is sabirnetug, also known as ACU193, an investigational humanized monoclonal antibody designed to selectively target soluble amyloid beta oligomers.
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