Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Given Average Rating of “Moderate Buy” by Brokerages

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $6.75.

A number of analysts have weighed in on ABOS shares. Bank of America decreased their price target on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Saturday, November 15th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new stake in Acumen Pharmaceuticals in the third quarter valued at $27,000. Marex Group plc bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $39,000. Qube Research & Technologies Ltd grew its stake in shares of Acumen Pharmaceuticals by 160.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock valued at $67,000 after buying an additional 35,424 shares during the period. AQR Capital Management LLC bought a new stake in Acumen Pharmaceuticals in the 1st quarter valued at about $46,000. Finally, Susquehanna International Group LLP increased its position in Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $367,000 after buying an additional 44,902 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Stock Performance

NASDAQ:ABOS opened at $1.95 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02. Acumen Pharmaceuticals has a fifty-two week low of $0.86 and a fifty-two week high of $2.46. The company has a 50 day simple moving average of $1.86 and a two-hundred day simple moving average of $1.48. The company has a market capitalization of $118.11 million, a PE ratio of -0.88 and a beta of 0.23.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. Research analysts anticipate that Acumen Pharmaceuticals will post -1.56 earnings per share for the current year.

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.