American Century Companies Inc. Purchases 10,840 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

American Century Companies Inc. grew its position in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 31.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 45,444 shares of the company’s stock after buying an additional 10,840 shares during the quarter. American Century Companies Inc.’s holdings in Acumen Pharmaceuticals were worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ABOS. Price T Rowe Associates Inc. MD bought a new position in Acumen Pharmaceuticals during the 1st quarter worth $4,449,000. Bank of New York Mellon Corp acquired a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter worth $306,000. Parkman Healthcare Partners LLC increased its position in shares of Acumen Pharmaceuticals by 20.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 603,497 shares of the company’s stock worth $2,317,000 after purchasing an additional 103,683 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Acumen Pharmaceuticals in the first quarter valued at about $253,000. Finally, Rhumbline Advisers bought a new stake in Acumen Pharmaceuticals during the second quarter worth about $127,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Thursday. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th. Finally, UBS Group lowered their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Acumen Pharmaceuticals Stock Down 0.8 %

ABOS stock opened at $2.37 on Friday. The firm has a 50-day moving average price of $2.65 and a 200-day moving average price of $3.00. Acumen Pharmaceuticals, Inc. has a 12 month low of $1.81 and a 12 month high of $5.09. The company has a current ratio of 17.37, a quick ratio of 17.37 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $142.39 million, a P/E ratio of -2.24 and a beta of 0.07.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same quarter last year, the company earned ($0.28) EPS. As a group, equities research analysts anticipate that Acumen Pharmaceuticals, Inc. will post -1.32 EPS for the current fiscal year.

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.