Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.75.

Several research analysts recently weighed in on ABOS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th. Bank of America cut their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Wall Street Zen raised Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP boosted its position in Acumen Pharmaceuticals by 7.1% during the second quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock worth $957,000 after purchasing an additional 55,004 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Acumen Pharmaceuticals during the 3rd quarter valued at approximately $691,000. Y Intercept Hong Kong Ltd bought a new position in Acumen Pharmaceuticals in the 2nd quarter worth approximately $291,000. Susquehanna International Group LLP grew its stake in Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $367,000 after buying an additional 44,902 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Acumen Pharmaceuticals by 45.4% during the 3rd quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock valued at $365,000 after acquiring an additional 66,720 shares during the period. 71.01% of the stock is currently owned by institutional investors.

Acumen Pharmaceuticals Stock Performance

Shares of ABOS stock opened at $2.17 on Wednesday. The stock has a market capitalization of $131.44 million, a PE ratio of -0.98 and a beta of 0.25. The business’s 50 day simple moving average is $1.98 and its 200 day simple moving average is $1.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 6.02. Acumen Pharmaceuticals has a one year low of $0.86 and a one year high of $2.46.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. As a group, research analysts forecast that Acumen Pharmaceuticals will post -1.56 earnings per share for the current year.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.