Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,450,000 shares, an increase of 14.2% from the October 15th total of 1,270,000 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily trading volume, of 184,900 shares, the short-interest ratio is currently 7.8 days.

Institutional Trading of Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new position in Acumen Pharmaceuticals during the 2nd quarter worth $26,000. SG Americas Securities LLC purchased a new stake in shares of Acumen Pharmaceuticals during the third quarter worth about $44,000. American Century Companies Inc. grew its stake in shares of Acumen Pharmaceuticals by 31.3% during the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock worth $110,000 after acquiring an additional 10,840 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Acumen Pharmaceuticals during the second quarter valued at about $127,000. Finally, Murchinson Ltd. purchased a new position in shares of Acumen Pharmaceuticals in the 2nd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Stock Performance

Shares of Acumen Pharmaceuticals stock opened at $2.40 on Monday. Acumen Pharmaceuticals has a one year low of $2.08 and a one year high of $5.09. The company has a market capitalization of $144.19 million, a PE ratio of -1.74 and a beta of 0.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 17.37 and a current ratio of 10.43. The company has a 50-day simple moving average of $2.62 and a two-hundred day simple moving average of $2.79.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the previous year, the company posted ($0.24) EPS. Research analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABOS has been the subject of several recent research reports. Citigroup upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th. UBS Group cut their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th.

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.