Fmr LLC Purchases 6,014 Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS)

Fmr LLC raised its position in shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,028,117 shares of the company’s stock after acquiring an additional 6,014 shares during the period. Fmr LLC’s holdings in Acumen Pharmaceuticals were worth $5,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Gladius Capital Management LP purchased a new stake in Acumen Pharmaceuticals in the 2nd quarter valued at about $26,000. Bank of New York Mellon Corp purchased a new position in shares of Acumen Pharmaceuticals during the second quarter valued at $306,000. Rhumbline Advisers bought a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at about $127,000. American Century Companies Inc. lifted its stake in Acumen Pharmaceuticals by 31.3% in 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 period. Finally, Renaissance Technologies LLC bought a new position in shares of Acumen Pharmaceuticals during the second quarter valued at approximately $818,000. Institutional investors own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th. 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 note on Thursday, August 15th.

Acumen Pharmaceuticals Stock Down 5.0 %

ABOS stock opened at $2.07 on Friday. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $2.54 and a two-hundred day moving average of $2.62. The company has a market cap of $124.37 million, a price-to-earnings ratio of -1.50 and a beta of -0.06. Acumen Pharmaceuticals, Inc. has a 12 month low of $2.05 and a 12 month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). During the same quarter in the previous year, the business posted ($0.24) earnings per share. As a group, analysts forecast that Acumen Pharmaceuticals, Inc. will post -1.56 earnings per share for the current fiscal year.

Acumen Pharmaceuticals Profile

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.