Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Acumen Pharmaceuticals, Inc. has received a consensus rating of "Moderate Buy" from five research analysts, with four buy ratings and one sell rating.
• The average target price for Acumen's stock among analysts is $7.00, although recent adjustments have seen price targets lowered by firms such as Bank of America.
• The company focuses on developing therapies for Alzheimer's disease and recently reported a quarterly loss of ($0.68) EPS, which was below analyst expectations.

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) has received an average recommendation of "Moderate Buy" from the five research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.00.

A number of equities research analysts have recently commented on ABOS shares. Bank of America lowered their price target on shares of Acumen Pharmaceuticals from $10.00 to $9.00 and set a "buy" rating for the company in a report on Monday, August 25th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Acumen Pharmaceuticals in a report on Saturday, September 27th. Finally, Citigroup started coverage on shares of Acumen Pharmaceuticals in a report on Tuesday, June 17th. They set a "buy" rating and a $4.00 price target for the company.

Acumen Pharmaceuticals Price Performance

NASDAQ:ABOS traded down $0.04 during mid-day trading on Friday, hitting $1.73. 373,890 shares of the company's stock traded hands, compared to its average volume of 327,836. The company has a market cap of $104.79 million, a PE ratio of -0.76 and a beta of 0.20. Acumen Pharmaceuticals has a 1 year low of $0.86 and a 1 year high of $3.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.97 and a current ratio of 5.97. The firm's 50 day simple moving average is $1.40 and its 200 day simple moving average is $1.23.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.14). Sell-side analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC boosted its position in shares of Acumen Pharmaceuticals by 116.1% in the fourth quarter. Jane Street Group LLC now owns 30,740 shares of the company's stock worth $53,000 after acquiring an additional 221,144 shares during the last quarter. Marex Group plc acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter worth approximately $39,000. AQR Capital Management LLC acquired a new stake in shares of Acumen Pharmaceuticals in the first quarter worth approximately $46,000. Qube Research & Technologies Ltd lifted its position in Acumen Pharmaceuticals by 160.0% during the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company's stock valued at $67,000 after buying an additional 35,424 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Acumen Pharmaceuticals during the first quarter valued at approximately $86,000. 71.01% of the stock is owned by institutional investors and hedge funds.

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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