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

Key Points

• Analysts give Acumen Pharmaceuticals a “Moderate Buy” consensus rating: four of five covering firms rate the stock a buy, while one rates it a sell. The average 12-month price target is $7.00.
• ABOS traded nearly flat at $2.61, with a market capitalization of approximately $188.6 million. The stock has ranged from $1.22 to $3.60 over the past year.
• Acumen reported a quarterly loss of $0.45 per share, missing the consensus estimate of a $0.36 loss. Institutional investors own approximately 71.01% of the company, which is developing sabirnetug as an investigational Alzheimer’s treatment.

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.00.

A number of equities research analysts have weighed in on ABOS shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Acumen Pharmaceuticals in a research note on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Acumen Pharmaceuticals in a research note on Monday, July 6th. Wall Street Zen cut shares of Acumen Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday, July 12th. BTIG Research reissued a "buy" rating and set a $8.00 price target on shares of Acumen Pharmaceuticals in a report on Wednesday. Finally, Citigroup upped their price objective on Acumen Pharmaceuticals from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Tuesday.

Acumen Pharmaceuticals Stock Down 0.1%

Shares of Acumen Pharmaceuticals stock traded down $0.00 during trading hours on Thursday, hitting $2.61. The company had a trading volume of 44,410 shares, compared to its average volume of 563,682. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.47 and a quick ratio of 2.47. The company's 50-day moving average is $2.63 and its two-hundred day moving average is $2.62. The company has a market cap of $188.61 million, a P/E ratio of -1.59 and a beta of 0.37. Acumen Pharmaceuticals has a twelve month low of $1.22 and a twelve month high of $3.60.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.09). Analysts anticipate that Acumen Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of large investors have recently bought and sold shares of ABOS. Squarepoint Ops LLC boosted its holdings in Acumen Pharmaceuticals by 248.7% in the 2nd quarter. Squarepoint Ops LLC now owns 52,351 shares of the company's stock valued at $140,000 after purchasing an additional 37,336 shares in the last quarter. Spark Investment Management LLC purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at approximately $39,000. Two Sigma Securities LLC purchased a new position in Acumen Pharmaceuticals in the second quarter worth $32,000. Bank of America Corp DE purchased a new position in Acumen Pharmaceuticals in the second quarter worth $734,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Acumen Pharmaceuticals in the second quarter valued at $5,637,000. Hedge funds and other institutional investors own 71.01% of the company's stock.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc NASDAQ: ABOS is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer's disease. The company's research is centered on amyloid-beta oligomers, toxic protein assemblies that Acumen believes play a key role in the development and progression of neurodegenerative disease.

Acumen's lead product candidate is sabirnetug, formerly known as ACU193, an investigational monoclonal antibody designed to selectively target amyloid-beta oligomers while avoiding much of the amyloid plaque targeted by some other Alzheimer's therapies.

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