Acumen Pharmaceuticals (NASDAQ:ABOS) Price Target Cut to $11.00 by Analysts at HC Wainwright

Acumen Pharmaceuticals (NASDAQ:ABOS) had its price objective decreased by HC Wainwright from $15.00 to $11.00 in a research report released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Acumen Pharmaceuticals’ FY2029 earnings at ($2.03) EPS.

Acumen Pharmaceuticals Stock Down 3.3 %

Acumen Pharmaceuticals stock opened at $1.19 on Friday. 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 company has a market capitalization of $71.50 million, a P/E ratio of -0.86 and a beta of 0.02. The firm has a 50 day moving average price of $1.38 and a 200-day moving average price of $1.98. Acumen Pharmaceuticals has a twelve month low of $1.10 and a twelve month high of $4.06.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings data 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). As a group, equities analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Insider Buying and Selling

In related news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business’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 value of $87,911.52. Following the completion of the sale, the chief executive officer now owns 454,707 shares in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matt Zuga sold 28,902 shares of the business’s 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 completion of the sale, the chief financial officer now owns 231,744 shares of the company’s stock, valued at approximately $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,526 shares of company stock worth $233,124. Corporate insiders own 7.10% of the company’s stock.

Institutional Trading of Acumen Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of Acumen Pharmaceuticals in the fourth quarter valued at about $25,000. Clune & Associates LTD. bought a new stake in shares of Acumen Pharmaceuticals in the fourth quarter worth about $28,000. Intech Investment Management LLC purchased a new position in Acumen Pharmaceuticals during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC raised its position in Acumen Pharmaceuticals by 427.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company’s stock valued at $35,000 after purchasing an additional 16,714 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Acumen Pharmaceuticals by 44.2% during the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company’s stock valued at $44,000 after purchasing an additional 7,859 shares during the last quarter. Hedge funds and other institutional investors 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.