Acumen Pharmaceuticals (NASDAQ:ABOS) Now Covered by Citigroup

Equities research analysts at Citigroup initiated coverage on shares of Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a "buy" rating and a $4.00 price target on the stock. Citigroup's price objective would suggest a potential upside of 233.33% from the company's current price.

ABOS has been the topic of several other research reports. UBS Group lowered their target price on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, March 28th. HC Wainwright reduced their price target on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a "buy" rating on the stock in a report on Friday, March 28th.

Acumen Pharmaceuticals Price Performance

ABOS stock traded down $0.02 during trading on Tuesday, reaching $1.20. The company's stock had a trading volume of 382,905 shares, compared to its average volume of 289,387. The company has a quick ratio of 8.02, a current ratio of 8.02 and a debt-to-equity ratio of 0.19. The company's fifty day moving average is $1.06 and its 200-day moving average is $1.36. The company has a market capitalization of $72.69 million, a P/E ratio of -0.62 and a beta of 0.05. Acumen Pharmaceuticals has a 1 year low of $0.86 and a 1 year high of $3.60.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.48) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.08. During the same period in the prior year, the business posted ($0.25) earnings per share. On average, research analysts expect that Acumen Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Acumen Pharmaceuticals during the 4th quarter worth approximately $25,000. Clune & Associates LTD. bought a new stake in Acumen Pharmaceuticals in the fourth quarter worth $28,000. Intech Investment Management LLC purchased a new stake in Acumen Pharmaceuticals during the fourth quarter valued at $32,000. Tower Research Capital LLC TRC raised its stake in Acumen Pharmaceuticals by 427.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company's stock valued at $35,000 after purchasing an additional 16,714 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Acumen Pharmaceuticals during the first quarter valued at $46,000. 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.