Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $6.75.

A number of brokerages have weighed in on ABOS. Bank of America lowered their price objective on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday.

Institutional Trading of Acumen Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. acquired a new position in Acumen Pharmaceuticals in the third quarter valued at approximately $27,000. Marex Group plc acquired a new position in Acumen Pharmaceuticals during the 2nd quarter valued at approximately $39,000. AQR Capital Management LLC acquired a new position in Acumen Pharmaceuticals during the 1st quarter valued at approximately $46,000. Qube Research & Technologies Ltd increased its position in Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after buying an additional 35,424 shares during the period. Finally, Nuveen LLC bought a new stake in Acumen Pharmaceuticals in the first quarter valued at $86,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Price Performance

Acumen Pharmaceuticals stock opened at $2.10 on Wednesday. The firm has a fifty day moving average of $1.97 and a 200-day moving average of $1.57. Acumen Pharmaceuticals has a 52-week low of $0.86 and a 52-week high of $2.46. The company has a quick ratio of 6.02, a current ratio of 6.02 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $127.20 million, a P/E ratio of -0.95 and a beta of 0.25.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.19. As a group, analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

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.