Acumen Pharmaceuticals (NASDAQ:ABOS) Trading 0.7% Higher - Still a Buy?

Key Points

• Analysts are mixed—three Buys and one Sell—but the consensus rating is Moderate Buy with a consensus price target of $6.67.
• Shares rose 0.7% to $2.84 on Monday with volume about 38% below average; the company has a market cap of roughly $205 million and remains loss-making, though it reported a quarterly EPS of −$0.41, beating estimates by $0.09.
• Acumen is a clinical-stage biopharmaceutical company developing oral small-molecule therapies that target pathological protein aggregation for neurodegenerative diseases like Alzheimer’s, Parkinson’s and ALS, with multiple preclinical and early clinical candidates.

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) shot up 0.7% on Monday . The stock traded as high as $2.99 and last traded at $2.84. 310,399 shares changed hands during trading, a decline of 38% from the average session volume of 500,455 shares. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ABOS shares. BTIG Research reaffirmed a "buy" rating and set a $8.00 price objective on shares of Acumen Pharmaceuticals in a report on Thursday, March 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a report on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of Acumen Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Sunday, March 29th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $6.67.

Acumen Pharmaceuticals Trading Up 0.7%

The stock has a market cap of $205.08 million, a P/E ratio of -1.41 and a beta of 0.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.07 and a current ratio of 4.07. The stock's fifty day moving average is $2.79 and its 200 day moving average is $2.30.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.09. The company had revenue of ($0.09) million for the quarter. As a group, equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Acumen Pharmaceuticals during the 3rd quarter valued at $691,000. Jane Street Group LLC increased its position in Acumen Pharmaceuticals by 1,526.0% during the second quarter. Jane Street Group LLC now owns 175,670 shares of the company's stock valued at $204,000 after acquiring an additional 164,866 shares during the last quarter. Marshall Wace LLP bought a new position in Acumen Pharmaceuticals during the second quarter valued at $160,000. Bridgeway Capital Management LLC raised its stake in shares of Acumen Pharmaceuticals by 65.1% in the third quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company's stock valued at $325,000 after acquiring an additional 75,000 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Acumen Pharmaceuticals by 45.4% in the third quarter. Bank of America Corp DE now owns 213,729 shares of the company's stock valued at $365,000 after acquiring an additional 66,720 shares during the period. Institutional investors own 71.01% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.