Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Rating Upgraded by Wall Street Zen

Acumen Pharmaceuticals (NASDAQ:ABOS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Several other analysts also recently commented on ABOS. Bank of America reduced their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Acumen Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $6.75.

Acumen Pharmaceuticals Stock Performance

NASDAQ:ABOS opened at $2.28 on Friday. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. Acumen Pharmaceuticals has a twelve month low of $0.86 and a twelve month high of $2.46. The company has a fifty day moving average of $1.98 and a 200-day moving average of $1.60. The firm has a market capitalization of $138.10 million, a P/E ratio of -1.03 and a beta of 0.25.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.19. As a group, sell-side analysts anticipate that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Acumen Pharmaceuticals during the 3rd quarter valued at $27,000. Marex Group plc bought a new position in Acumen Pharmaceuticals during the second quarter valued at about $39,000. AQR Capital Management LLC purchased a new stake in Acumen Pharmaceuticals during the first quarter worth about $46,000. Qube Research & Technologies Ltd raised its position in Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after acquiring an additional 35,424 shares during the period. Finally, Nuveen LLC bought a new stake in Acumen Pharmaceuticals in the first quarter worth about $86,000. Institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.