HC Wainwright reiterated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS - Free Report) in a report issued on Wednesday,Benzinga reports. The firm currently has a $15.00 price target on the stock.
A number of other brokerages also recently issued reports on ABOS. Citigroup raised shares of Acumen Pharmaceuticals to a "strong-buy" rating in a report on Friday, July 26th. UBS Group lowered their target price on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th.
Read Our Latest Analysis on ABOS
Acumen Pharmaceuticals Price Performance
Acumen Pharmaceuticals stock traded down $0.15 during mid-day trading on Wednesday, reaching $2.53. The company's stock had a trading volume of 182,017 shares, compared to its average volume of 327,298. The firm's fifty day moving average price is $2.61 and its two-hundred day moving average price is $2.80. The company has a quick ratio of 17.37, a current ratio of 17.37 and a debt-to-equity ratio of 0.12. Acumen Pharmaceuticals has a 12-month low of $2.01 and a 12-month high of $5.09.
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 the consensus estimate of ($0.36) by ($0.14). During the same quarter in the prior year, the firm posted ($0.24) earnings per share. As a group, equities analysts forecast that Acumen Pharmaceuticals will post -1.32 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of ABOS. Price T Rowe Associates Inc. MD bought a new stake in Acumen Pharmaceuticals during the first quarter valued at approximately $4,449,000. Renaissance Technologies LLC purchased a new stake in shares of Acumen Pharmaceuticals during the 2nd quarter valued at $818,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Acumen Pharmaceuticals during the 1st quarter worth $253,000. American Century Companies Inc. grew its position in Acumen Pharmaceuticals by 31.3% in the second 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals in the third quarter worth $44,000. 71.01% of the stock is currently owned by institutional investors.
About Acumen Pharmaceuticals
(
Get Free Report)
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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