Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• "Moderate Buy" consensus from six brokerages (five buys, one sell) with an average 12‑month price target of $7.00.
• CEO Daniel Joseph Oconnell sold 37,755 shares at an average $1.99 on Jan 7, and insiders sold 149,818 shares worth $285,057 in the last quarter; insiders currently own 9.30% of the company.
• Acumen is a clinical‑stage biopharma developing oral small molecules for neurodegenerative diseases; ABOS trades around $2.55 with a market cap of about $154 million and roughly 71% institutional ownership.

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.00.

A number of equities analysts have recently commented on the stock. BTIG Research restated a "buy" rating and issued a $8.00 price objective on shares of Acumen Pharmaceuticals in a research report on Thursday. Wall Street Zen cut shares of Acumen Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th.

Insider Buying and Selling at Acumen Pharmaceuticals

In related news, CEO Daniel Joseph Oconnell sold 37,755 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total value of $75,132.45. Following the sale, the chief executive officer owned 619,982 shares in the company, valued at approximately $1,233,764.18. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 149,818 shares of company stock valued at $285,057 over the last quarter. Corporate insiders own 9.30% of the company's stock.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABOS. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Acumen Pharmaceuticals in the 3rd quarter valued at about $27,000. Marex Group plc purchased a new position in shares of Acumen Pharmaceuticals during the second quarter worth about $39,000. Independent Advisor Alliance bought a new position in shares of Acumen Pharmaceuticals in the fourth quarter worth approximately $40,000. PFG Investments LLC increased its position in shares of Acumen Pharmaceuticals by 65.2% in the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company's stock worth $40,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Acumen Pharmaceuticals in the fourth quarter valued at approximately $44,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Stock Down 3.0%

ABOS stock opened at $2.55 on Friday. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $154.45 million, a PE ratio of -1.15 and a beta of 0.21. Acumen Pharmaceuticals has a twelve month low of $0.86 and a twelve month high of $3.60. The stock has a 50-day simple moving average of $2.69 and a two-hundred day simple moving average of $2.15.

Acumen Pharmaceuticals Company Profile

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.

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