Equities Analysts Set Expectations for ABOS FY2029 Earnings

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – Analysts at HC Wainwright issued their FY2029 EPS estimates for Acumen Pharmaceuticals in a report released on Friday, March 28th. HC Wainwright analyst A. Fein expects that the company will post earnings of ($2.03) per share for the year. HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.56) per share.

Separately, UBS Group decreased their target price on shares of Acumen Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday.

Acumen Pharmaceuticals Trading Down 7.6 %

NASDAQ:ABOS opened at $1.10 on Monday. The stock has a fifty day simple moving average of $1.37 and a 200 day simple moving average of $1.97. The company has a quick ratio of 10.43, a current ratio of 10.43 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $66.09 million, a price-to-earnings ratio of -0.80 and a beta of 0.02. Acumen Pharmaceuticals has a 1-year low of $1.06 and a 1-year high of $4.06.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Thursday, March 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.15).

Hedge Funds Weigh In On Acumen Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in Acumen Pharmaceuticals by 6.5% during the third quarter. Geode Capital Management LLC now owns 864,528 shares of the company’s stock valued at $2,144,000 after purchasing an additional 52,395 shares during the last quarter. State Street Corp lifted its holdings in shares of Acumen Pharmaceuticals by 18.3% during the 3rd quarter. State Street Corp now owns 516,406 shares of the company’s stock valued at $1,281,000 after buying an additional 79,841 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Acumen Pharmaceuticals by 44.2% in the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock valued at $44,000 after buying an additional 7,859 shares in the last quarter. Barclays PLC increased its holdings in Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company’s stock worth $154,000 after buying an additional 40,551 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Acumen Pharmaceuticals by 252.8% during the third quarter. JPMorgan Chase & Co. now owns 63,066 shares of the company’s stock valued at $156,000 after acquiring an additional 45,189 shares in the last quarter. 71.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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