Acumen Pharmaceuticals’ (ABOS) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $15.00 target price on the stock.

Several other equities research analysts have also recently commented on ABOS. UBS Group cut their target price on Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th.

Acumen Pharmaceuticals Trading Down 8.0 %

NASDAQ ABOS opened at $2.40 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 17.37. The stock’s 50-day moving average is $2.62 and its 200-day moving average is $2.79. Acumen Pharmaceuticals has a one year low of $2.08 and a one year high of $5.09. The firm has a market cap of $144.19 million, a P/E ratio of -1.74 and a beta of 0.04.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same period in the previous year, the company posted ($0.24) earnings per share. Sell-side analysts anticipate that Acumen Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABOS. SG Americas Securities LLC bought a new position in shares of Acumen Pharmaceuticals during the 1st quarter worth approximately $52,000. Susquehanna Fundamental Investments LLC acquired a new stake in Acumen Pharmaceuticals during the 1st quarter valued at $253,000. Price T Rowe Associates Inc. MD bought a new position in Acumen Pharmaceuticals during the first quarter worth $4,449,000. Gladius Capital Management LP bought a new position in Acumen Pharmaceuticals during the second quarter worth $26,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Acumen Pharmaceuticals in the second quarter valued at $306,000. 71.01% of the stock is owned by institutional investors.

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.