Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Stock Rated “Reduce” by Sell-Side Analysts

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have been assigned a consensus rating of “Reduce” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $1.00.

Several analysts have recently issued reports on the company. Weiss Ratings cut Acumen Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 30th. Stifel Nicolaus lowered Acumen Pharmaceuticals from a “buy” rating to a “hold” rating and set a $1.00 target price for the company. in a report on Friday, October 30th. BTIG Research cut their price target on Acumen Pharmaceuticals to $1.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Citigroup cut shares of Acumen Pharmaceuticals from a “buy” rating to a “hold” rating and set a $1.00 price target for the company. in a report on Friday, October 30th. Finally, Cantor Fitzgerald cut shares of Acumen Pharmaceuticals from a “strong-buy” rating to a “strong sell” rating in a report on Friday, October 30th.

Institutional Trading of Acumen Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. purchased a new stake in Acumen Pharmaceuticals during the first quarter worth approximately $27,000. Two Sigma Securities LLC acquired a new stake in Acumen Pharmaceuticals during the second quarter worth approximately $32,000. Spark Investment Management LLC purchased a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $39,000. OMERS ADMINISTRATION Corp lifted its position in shares of Acumen Pharmaceuticals by 27.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 28,600 shares of the company’s stock worth $67,000 after buying an additional 6,146 shares during the last quarter. Finally, Rangeley Capital LLC purchased a new stake in shares of Acumen Pharmaceuticals during the 1st quarter worth approximately $83,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Price Performance

ABOS stock opened at $0.22 on Friday. The business’s fifty day moving average price is $1.90 and its 200 day moving average price is $2.42. Acumen Pharmaceuticals has a 12-month low of $0.19 and a 12-month high of $3.60. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $15.77 million, a PE ratio of -0.14 and a beta of 0.51.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Monday, October 26th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.04. On average, sell-side analysts anticipate that Acumen Pharmaceuticals will post -1.50 EPS for the current year.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for Alzheimer’s disease. Its research focuses on soluble amyloid beta oligomers, forms of the protein that the company believes contribute to the disease. The company’s lead investigational product, sabirnetug (ACU193), is a monoclonal antibody designed to selectively target amyloid beta oligomers. Acumen has evaluated the treatment in clinical studies of people with early Alzheimer’s disease; it is investigational and has not been approved for commercial use.