Millennium Management LLC Has $2.31 Million Stock Holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Millennium Management LLC lessened its holdings in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,344,745 shares of the company's stock after selling 490,008 shares during the period. Millennium Management LLC owned 2.24% of Acumen Pharmaceuticals worth $2,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Acumen Pharmaceuticals in the 4th quarter valued at $25,000. Clune & Associates LTD. acquired a new stake in shares of Acumen Pharmaceuticals in the 4th quarter valued at $28,000. Intech Investment Management LLC acquired a new stake in shares of Acumen Pharmaceuticals in the 4th quarter valued at $32,000. Tower Research Capital LLC TRC lifted its stake in shares of Acumen Pharmaceuticals by 427.5% in the 4th 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 during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Acumen Pharmaceuticals by 44.2% in the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company's stock valued at $44,000 after purchasing an additional 7,859 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group dropped 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 decreased their target price 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.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ ABOS remained flat at $1.07 during mid-day trading on Thursday. 174,467 shares of the stock traded hands, compared to its average volume of 290,052. The stock has a market capitalization of $64.81 million, a PE ratio of -0.78 and a beta of 0.05. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. Acumen Pharmaceuticals, Inc. has a one year low of $0.86 and a one year high of $3.60. The company has a 50 day simple moving average of $1.03 and a two-hundred day simple moving average of $1.44.

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

Acumen Pharmaceuticals 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.