Acumen Pharmaceuticals (NASDAQ:ABOS - Free Report) had its target price trimmed by HC Wainwright from $15.00 to $11.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Acumen Pharmaceuticals' FY2029 earnings at ($2.03) EPS.
Acumen Pharmaceuticals Price Performance
Shares of NASDAQ ABOS traded down $0.02 during midday trading on Friday, hitting $1.09. The stock had a trading volume of 140,480 shares, compared to its average volume of 256,023. 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 stock has a 50 day simple moving average of $1.37 and a 200-day simple moving average of $1.97. The company has a market capitalization of $65.19 million, a PE ratio of -0.79 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 - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.15). On average, sell-side analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.
Insider Transactions at Acumen Pharmaceuticals
In other news, CEO Daniel Joseph Oconnell sold 47,778 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were 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 of the company's stock, valued at $836,660.88. This represents a 9.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Matt Zuga sold 28,902 shares of Acumen Pharmaceuticals stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $1.72, for a total transaction of $49,711.44. Following the sale, the chief financial officer now directly owns 231,744 shares in the company, valued at approximately $398,599.68. The trade was a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,526 shares of company stock worth $233,124 in the last ninety days. Insiders own 7.10% of the company's stock.
Institutional Investors Weigh In On Acumen Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Acumen Pharmaceuticals by 0.3% in the 3rd quarter. FMR LLC now owns 2,028,117 shares of the company's stock valued at $5,030,000 after acquiring an additional 6,014 shares during the period. SG Americas Securities LLC grew its holdings in shares of Acumen Pharmaceuticals by 44.2% in the fourth 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 in the last quarter. Bank of America Corp DE increased its stake in Acumen Pharmaceuticals by 7.2% during the 4th quarter. Bank of America Corp DE now owns 148,668 shares of the company's stock worth $256,000 after buying an additional 9,944 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Acumen Pharmaceuticals during the 4th quarter worth approximately $25,000. Finally, Clune & Associates LTD. purchased a new position in Acumen Pharmaceuticals in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 71.01% of the company's stock.
About Acumen Pharmaceuticals
(
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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.
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