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

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,450,000 shares, a growth of 14.2% from the October 15th total of 1,270,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 184,900 shares, the days-to-cover ratio is presently 7.8 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ABOS. FMR LLC lifted its position in Acumen Pharmaceuticals by 0.3% in the third quarter. FMR LLC now owns 2,028,117 shares of the company's stock valued at $5,030,000 after buying an additional 6,014 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the 2nd quarter. American Century Companies Inc. now owns 45,444 shares of the company's stock worth $110,000 after acquiring an additional 10,840 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth approximately $26,000. SG Americas Securities LLC acquired a new stake in Acumen Pharmaceuticals in the 1st quarter valued at approximately $52,000. Finally, Barclays PLC raised its position in Acumen Pharmaceuticals by 189.1% in the third quarter. Barclays PLC now owns 61,997 shares of the company's stock valued at $154,000 after purchasing an additional 40,551 shares during the period. 71.01% of the stock is currently owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Trading Down 8.0 %

Shares of NASDAQ ABOS traded down $0.21 during trading on Friday, hitting $2.40. 296,509 shares of the company were exchanged, compared to its average volume of 326,599. The company has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 17.37 and a current ratio of 10.43. The firm has a market capitalization of $144.19 million, a PE ratio of -1.74 and a beta of 0.04. Acumen Pharmaceuticals has a 12-month low of $2.08 and a 12-month high of $5.09.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.14). During the same period in the prior year, the firm earned ($0.24) EPS. As a group, equities research analysts expect that Acumen Pharmaceuticals will post -1.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABOS shares. Citigroup raised shares of Acumen Pharmaceuticals to a "strong-buy" rating in a research note on Friday, July 26th. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price objective on shares of Acumen Pharmaceuticals in a research note on Wednesday. Finally, UBS Group cut their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a "buy" rating for the company in a report on Thursday, August 15th.

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.