Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,390,000 shares, a decrease of 5.4% from the November 15th total of 1,470,000 shares. Based on an average daily volume of 202,200 shares, the short-interest ratio is presently 6.9 days. Approximately 3.1% of the company's shares are short sold.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ABOS. SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals in the 3rd quarter valued at about $44,000. American Century Companies Inc. boosted its holdings in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company's stock valued at $110,000 after purchasing an additional 10,840 shares during the last quarter. Rhumbline Advisers acquired a new stake in Acumen Pharmaceuticals during the 2nd quarter valued at approximately $127,000. Murchinson Ltd. purchased a new stake in Acumen Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Barclays PLC raised its position in shares of Acumen Pharmaceuticals by 189.1% in the 3rd quarter. Barclays PLC now owns 61,997 shares of the company's stock valued at $154,000 after purchasing an additional 40,551 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company's stock.

Acumen Pharmaceuticals Trading Down 0.5 %

NASDAQ ABOS traded down $0.01 during mid-day trading on Tuesday, hitting $1.96. The company's stock had a trading volume of 348,185 shares, compared to its average volume of 321,701. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 10.43. Acumen Pharmaceuticals has a 52-week low of $1.91 and a 52-week high of $5.09. The stock's fifty day simple moving average is $2.51 and its two-hundred day simple moving average is $2.59. The firm has a market capitalization of $117.76 million, a P/E ratio of -1.42 and a beta of -0.07.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.14). During the same period in the previous year, the firm earned ($0.24) EPS. Research analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a report on Wednesday, November 13th.

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.