UBS Group Lowers Acumen Pharmaceuticals (NASDAQ:ABOS) Price Target to $4.00

Acumen Pharmaceuticals (NASDAQ:ABOS) had its target price decreased by UBS Group from $6.00 to $4.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Separately, HC Wainwright lowered their price objective on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals stock opened at $1.19 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 company has a fifty day simple moving average of $1.38 and a 200-day simple moving average of $1.98. The stock has a market cap of $71.50 million, a P/E ratio of -0.86 and a beta of 0.02. Acumen Pharmaceuticals has a 12-month low of $1.10 and a 12-month high of $4.06.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.15). Equities analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Insider Activity at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.84, for a total transaction of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares of the company’s stock, valued at approximately $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matt Zuga sold 28,902 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total transaction of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares of the company’s stock, valued at approximately $398,599.68. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,526 shares of company stock valued at $233,124. 7.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of large investors have recently modified their holdings of ABOS. Two Sigma Advisers LP lifted its holdings in Acumen Pharmaceuticals by 6.4% in the 4th quarter. Two Sigma Advisers LP now owns 499,100 shares of the company’s stock worth $858,000 after buying an additional 30,000 shares in the last quarter. Deutsche Bank AG increased its position in shares of Acumen Pharmaceuticals by 468.7% during the fourth quarter. Deutsche Bank AG now owns 96,995 shares of the company’s stock worth $167,000 after acquiring an additional 79,940 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Acumen Pharmaceuticals by 7.2% in the fourth quarter. Bank of America Corp DE now owns 148,668 shares of the company’s stock worth $256,000 after acquiring an additional 9,944 shares in the last quarter. Jane Street Group LLC boosted its holdings in Acumen Pharmaceuticals by 116.1% in the fourth quarter. Jane Street Group LLC now owns 30,740 shares of the company’s stock valued at $53,000 after purchasing an additional 221,144 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Acumen Pharmaceuticals in the fourth quarter valued at about $25,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company 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.