Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Given Consensus Rating of “Moderate Buy” by Brokerages

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.75.

ABOS has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Bank of America reduced their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Saturday, November 15th.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Acumen Pharmaceuticals in the 3rd quarter worth approximately $27,000. Marex Group plc purchased a new stake in Acumen Pharmaceuticals in the second quarter valued at approximately $39,000. AQR Capital Management LLC acquired a new position in Acumen Pharmaceuticals during the first quarter worth $46,000. Qube Research & Technologies Ltd boosted its position in shares of Acumen Pharmaceuticals by 160.0% during the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after buying an additional 35,424 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Acumen Pharmaceuticals in the first quarter valued at $86,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Trading Up 0.6%

NASDAQ:ABOS traded up $0.01 during trading hours on Friday, hitting $1.57. The company had a trading volume of 82,604 shares, compared to its average volume of 230,088. Acumen Pharmaceuticals has a 1 year low of $0.86 and a 1 year high of $2.47. The company has a market cap of $95.09 million, a P/E ratio of -0.71 and a beta of 0.23. The company has a 50-day moving average of $1.82 and a 200 day moving average of $1.46. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.29.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.19. Sell-side analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current year.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.