HC Wainwright Weighs in on Acumen Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:ABOS)

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – Equities research analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Acumen Pharmaceuticals in a report issued on Wednesday, March 27th. HC Wainwright analyst A. Fein forecasts that the company will earn ($0.26) per share for the quarter. HC Wainwright has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.39) per share. HC Wainwright also issued estimates for Acumen Pharmaceuticals’ FY2028 earnings at ($1.16) EPS.

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Acumen Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $8.00 price target on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.25.

Acumen Pharmaceuticals Stock Performance

Shares of NASDAQ:ABOS opened at $4.05 on Thursday. The stock has a 50-day simple moving average of $3.71 and a 200-day simple moving average of $3.52. The stock has a market capitalization of $234.54 million, a P/E ratio of -3.72 and a beta of 0.10. Acumen Pharmaceuticals has a 1 year low of $1.81 and a 1 year high of $11.31.

Insider Transactions at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 15,200 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $3.47, for a total value of $52,744.00. Following the completion of the sale, the chief executive officer now owns 502,485 shares in the company, valued at $1,743,622.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Derek M. Meisner sold 8,933 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $3.48, for a total value of $31,086.84. Following the completion of the transaction, the insider now owns 108,867 shares in the company, valued at approximately $378,857.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Joseph Oconnell sold 15,200 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $3.47, for a total transaction of $52,744.00. Following the sale, the chief executive officer now directly owns 502,485 shares in the company, valued at $1,743,622.95. The disclosure for this sale can be found here. Insiders sold 31,208 shares of company stock valued at $110,136 over the last quarter. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ABOS. UBS Group AG bought a new stake in Acumen Pharmaceuticals in the third quarter valued at $27,000. California State Teachers Retirement System grew its position in Acumen Pharmaceuticals by 114.9% in the 1st quarter. California State Teachers Retirement System now owns 12,162 shares of the company’s stock worth $48,000 after purchasing an additional 6,503 shares during the last quarter. American International Group Inc. increased its stake in shares of Acumen Pharmaceuticals by 163.3% in the first quarter. American International Group Inc. now owns 14,047 shares of the company’s stock valued at $55,000 after purchasing an additional 8,712 shares during the period. Jane Street Group LLC bought a new stake in Acumen Pharmaceuticals during the 4th quarter valued at $55,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Acumen Pharmaceuticals during the third quarter valued at about $56,000. 71.01% of the stock is currently owned by institutional investors and hedge funds.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.