Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Sees Significant Decrease in Short Interest

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Get Free Report) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 1,270,000 shares, a decrease of 18.6% from the September 30th total of 1,560,000 shares. Approximately 2.8% of the company's stock are sold short. Based on an average trading volume of 203,200 shares, the short-interest ratio is currently 6.3 days.

Institutional Investors Weigh In On Acumen Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ABOS. Gladius Capital Management LP acquired a new stake in shares of Acumen Pharmaceuticals in the second quarter valued at $26,000. SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals in the third quarter valued at approximately $44,000. American Century Companies Inc. raised its position in 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 purchasing an additional 10,840 shares during the last quarter. Rhumbline Advisers bought a new position in Acumen Pharmaceuticals in the 2nd quarter valued at $127,000. Finally, Murchinson Ltd. bought a new stake in shares of Acumen Pharmaceuticals during the second quarter worth $136,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABOS shares. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research note on Thursday, October 3rd. Citigroup upgraded Acumen Pharmaceuticals to a "strong-buy" rating in a research note on Friday, July 26th. Finally, UBS Group dropped their price target on Acumen Pharmaceuticals from $14.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th.

Acumen Pharmaceuticals Stock Performance

ABOS stock traded down $0.01 during trading on Monday, reaching $2.89. 273,870 shares of the stock were exchanged, compared to its average volume of 333,922. Acumen Pharmaceuticals has a twelve month low of $1.81 and a twelve month high of $5.09. The company has a market capitalization of $173.63 million, a P/E ratio of -2.94 and a beta of 0.07. The stock has a 50 day simple moving average of $2.55 and a 200-day simple moving average of $2.83. The company has a current ratio of 17.37, a quick ratio of 17.37 and a debt-to-equity ratio of 0.12.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.06). During the same period last year, the business posted ($0.28) EPS. As a group, sell-side analysts anticipate that Acumen Pharmaceuticals will post -1.32 earnings per share 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.