JPMorgan Chase & Co. Increases Position in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

JPMorgan Chase & Co. increased its stake in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Free Report) by 1,387.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 937,908 shares of the company's stock after acquiring an additional 874,842 shares during the quarter. JPMorgan Chase & Co. owned about 1.56% of Acumen Pharmaceuticals worth $1,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Acumen Pharmaceuticals by 6.5% during the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company's stock valued at $2,144,000 after buying an additional 52,395 shares during the last quarter. State Street Corp raised its stake in Acumen Pharmaceuticals by 18.3% during the third quarter. State Street Corp now owns 516,406 shares of the company's stock valued at $1,281,000 after purchasing an additional 79,841 shares in the last quarter. SG Americas Securities LLC lifted its position in Acumen Pharmaceuticals by 44.2% during the fourth 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. Barclays PLC grew its stake in shares of Acumen Pharmaceuticals by 189.1% in the 3rd quarter. Barclays PLC now owns 61,997 shares of the company's stock worth $154,000 after buying an additional 40,551 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Acumen Pharmaceuticals by 16.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 126,747 shares of the company's stock worth $218,000 after buying an additional 18,004 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ABOS shares. HC Wainwright reduced their price objective on Acumen Pharmaceuticals from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. UBS Group cut their target price on Acumen Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, March 28th.

Acumen Pharmaceuticals Trading Down 4.9 %

NASDAQ:ABOS traded down $0.06 during mid-day trading on Thursday, hitting $1.08. 25,981 shares of the stock traded hands, compared to its average volume of 291,207. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $65.12 million, a price-to-earnings ratio of -0.78 and a beta of 0.10. Acumen Pharmaceuticals, Inc. has a 52 week low of $0.86 and a 52 week high of $3.92. The firm's 50 day moving average is $1.14 and its two-hundred day moving average is $1.75.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.15). On average, equities research analysts predict that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share 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.