Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Price Up 4.3% - Should You Buy?

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) rose 4.3% on Tuesday . The stock traded as high as $1.25 and last traded at $1.21. Approximately 377,826 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 282,947 shares. The stock had previously closed at $1.16.

Wall Street Analysts Forecast Growth

ABOS has been the topic of several recent research reports. HC Wainwright dropped their price target on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. UBS Group dropped their price target on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Citigroup initiated coverage on shares of Acumen Pharmaceuticals in a research report on Tuesday, June 17th. They issued a "buy" rating and a $4.00 price target on the stock.

Acumen Pharmaceuticals Stock Up 7.7%

The company has a debt-to-equity ratio of 0.19, a current ratio of 8.02 and a quick ratio of 8.02. The company's 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.27.

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

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABOS. Deutsche Bank AG increased its stake in shares of Acumen Pharmaceuticals by 468.7% during the 4th quarter. Deutsche Bank AG now owns 96,995 shares of the company's stock worth $167,000 after purchasing an additional 79,940 shares during the last quarter. Bank of America Corp DE increased 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 purchasing an additional 9,944 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Acumen Pharmaceuticals by 1,387.2% during the 4th 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 during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Acumen Pharmaceuticals by 427.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company's stock worth $35,000 after purchasing an additional 16,714 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Acumen Pharmaceuticals by 73.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 98,016 shares of the company's stock worth $169,000 after purchasing an additional 41,460 shares during the last quarter. Hedge funds and other 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.