UBS Group Has Lowered Expectations for Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Price

Acumen Pharmaceuticals (NASDAQ:ABOS - Free Report) had its price objective decreased by UBS Group from $6.00 to $4.00 in a report published on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Separately, HC Wainwright lowered their target price on shares of Acumen Pharmaceuticals from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Friday.

Acumen Pharmaceuticals Trading Down 1.4 %

ABOS traded down $0.02 during mid-day trading on Friday, reaching $1.09. The stock had a trading volume of 140,480 shares, compared to its average volume of 288,648. The firm's fifty day simple moving average is $1.37 and its two-hundred day simple moving average is $1.97. The stock has a market capitalization of $65.19 million, a P/E ratio of -0.79 and a beta of 0.02. Acumen Pharmaceuticals has a 52 week low of $1.06 and a 52 week high of $4.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 10.43 and a current ratio of 10.43.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.15). On average, equities analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

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Insider Buying and Selling at Acumen Pharmaceuticals

In other news, CEO Daniel Joseph Oconnell sold 47,778 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $1.84, for a total value of $87,911.52. Following the sale, the chief executive officer now directly owns 454,707 shares in the company, valued at $836,660.88. The trade was a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matt Zuga sold 28,902 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $1.72, for a total value of $49,711.44. Following the transaction, the chief financial officer now owns 231,744 shares of the company's stock, valued at approximately $398,599.68. The trade was a 11.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,526 shares of company stock valued at $233,124. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABOS. Susquehanna Fundamental Investments LLC bought a new position in shares of Acumen Pharmaceuticals in the 4th quarter valued at about $25,000. Clune & Associates LTD. acquired a new position in Acumen Pharmaceuticals during the fourth quarter valued at approximately $28,000. Intech Investment Management LLC bought a new position in Acumen Pharmaceuticals in the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its holdings in Acumen Pharmaceuticals by 427.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,624 shares of the company's stock worth $35,000 after buying an additional 16,714 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Acumen Pharmaceuticals by 44.2% during the 4th quarter. SG Americas Securities LLC now owns 25,631 shares of the company's stock worth $44,000 after purchasing an additional 7,859 shares during the last quarter. 71.01% of the stock is currently owned by institutional investors and hedge funds.

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.