Acumen Pharmaceuticals' (ABOS) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Acumen Pharmaceuticals' stock has been reissued a "sell (D-)" rating by Weiss Ratings, indicating potential concerns about the company's performance.
• Bank of America has lowered its target price for Acumen Pharmaceuticals from $10.00 to $9.00, while Citigroup has set a target price of $4.00, suggesting mixed analyst outlooks.
• The company reported a quarterly loss of ($0.68) EPS, missing analysts' expectations, and is projected to have a consensus rating of "Moderate Buy" with an average target price of $7.00.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Several other equities analysts have also commented on ABOS. Bank of America decreased their target price on shares of Acumen Pharmaceuticals from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Monday, August 25th. Citigroup assumed coverage on shares of Acumen Pharmaceuticals in a research note on Tuesday, June 17th. They issued a "buy" rating and a $4.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.00.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals stock traded up $0.10 during mid-day trading on Tuesday, reaching $2.22. 242,435 shares of the company were exchanged, compared to its average volume of 337,144. The company has a fifty day simple moving average of $1.48 and a 200-day simple moving average of $1.27. Acumen Pharmaceuticals has a 12 month low of $0.86 and a 12 month high of $3.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.97 and a quick ratio of 5.97. The firm has a market cap of $134.16 million, a PE ratio of -0.98 and a beta of 0.20.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.14). As a group, equities research analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ABOS. Invesco Ltd. grew its position in Acumen Pharmaceuticals by 544.1% during the 1st quarter. Invesco Ltd. now owns 127,798 shares of the company's stock worth $141,000 after acquiring an additional 107,956 shares during the last quarter. Nuveen LLC bought a new stake in shares of Acumen Pharmaceuticals during the first quarter worth about $86,000. ADAR1 Capital Management LLC grew its holdings in Acumen Pharmaceuticals by 55.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 146,183 shares of the company's stock worth $161,000 after acquiring an additional 51,889 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the first quarter worth $46,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Acumen Pharmaceuticals in the second quarter worth $291,000. Institutional investors own 71.01% of the company's stock.

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.

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