Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 2,550,000 shares, a growth of 35.6% from the May 15th total of 1,880,000 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average trading volume of 233,000 shares, the short-interest ratio is currently 10.9 days.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS remained flat at $1.22 on Wednesday. 531,525 shares of the company's stock traded hands, compared to its average volume of 289,013. The business's 50-day moving average price is $1.06 and its 200-day moving average price is $1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 8.02 and a quick ratio of 8.02. Acumen Pharmaceuticals has a 12-month low of $0.86 and a 12-month high of $3.60. The company has a market cap of $73.90 million, a P/E ratio of -0.63 and a beta of 0.05.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.08. During the same period in the previous year, the company earned ($0.25) earnings per share. Equities analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABOS. HC Wainwright lowered their price target on Acumen Pharmaceuticals from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, March 28th. UBS Group reduced their price objective on Acumen Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Citigroup assumed coverage on Acumen Pharmaceuticals in a report on Tuesday. They set a "buy" rating and a $4.00 target price for the company.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Acumen Pharmaceuticals by 1,387.2% in the fourth quarter. JPMorgan Chase & Co. now owns 937,908 shares of the company's stock worth $1,613,000 after purchasing an additional 874,842 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Acumen Pharmaceuticals by 6.4% in the fourth quarter. Two Sigma Advisers LP now owns 499,100 shares of the company's stock worth $858,000 after buying an additional 30,000 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Acumen Pharmaceuticals by 7.2% during the 4th quarter. Bank of America Corp DE now owns 148,668 shares of the company's stock worth $256,000 after acquiring an additional 9,944 shares in the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of Acumen Pharmaceuticals by 55.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 146,183 shares of the company's stock valued at $161,000 after acquiring an additional 51,889 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Acumen Pharmaceuticals by 544.1% in the 1st quarter. Invesco Ltd. now owns 127,798 shares of the company's stock worth $141,000 after purchasing an additional 107,956 shares during the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Acumen Pharmaceuticals Company Profile

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.