Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.75.

ABOS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th. Bank of America cut 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. Finally, Wall Street Zen lowered Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ABOS. Jacobs Levy Equity Management Inc. acquired a new position in Acumen Pharmaceuticals during the third quarter worth approximately $27,000. Susquehanna International Group LLP grew its stake in shares of Acumen Pharmaceuticals by 26.5% during 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 during the period. Bank of America Corp DE increased its holdings in shares of Acumen Pharmaceuticals by 45.4% during the 3rd quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock worth $365,000 after buying an additional 66,720 shares during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Acumen Pharmaceuticals by 65.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 190,171 shares of the company’s stock worth $325,000 after buying an additional 75,000 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Acumen Pharmaceuticals in the third quarter valued at $691,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ ABOS opened at $2.10 on Wednesday. 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 one year low of $0.86 and a one year high of $2.46. The firm has a market capitalization of $127.20 million, a P/E ratio of -0.95 and a beta of 0.25. The company’s fifty day moving average is $1.97 and its two-hundred day moving average is $1.57.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.19. Analysts forecast that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.

About Acumen Pharmaceuticals

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.