Equities Analysts Issue Forecasts for ABOS FY2029 Earnings

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS - Free Report) - Analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Acumen Pharmaceuticals in a note issued to investors on Friday, March 28th. HC Wainwright analyst A. Fein anticipates that the company will earn ($2.03) per share for the year. HC Wainwright has a "Buy" rating and a $11.00 price target on the stock. The consensus estimate for Acumen Pharmaceuticals' current full-year earnings is ($1.56) per share.

Separately, UBS Group dropped their price target on Acumen Pharmaceuticals from $6.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, March 28th.

Acumen Pharmaceuticals Price Performance

ABOS stock traded down $0.09 during mid-day trading on Monday, reaching $0.99. The company's stock had a trading volume of 320,466 shares, compared to its average volume of 289,711. The company has a current ratio of 10.43, a quick ratio of 10.43 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $1.33 and its two-hundred day moving average is $1.95. Acumen Pharmaceuticals has a fifty-two week low of $0.98 and a fifty-two week high of $4.06. The stock has a market cap of $59.36 million, a PE ratio of -0.72 and a beta of 0.02.

Acumen Pharmaceuticals (NASDAQ:ABOS - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.15).

Insider Activity at Acumen Pharmaceuticals

In related news, CFO Matt Zuga sold 28,902 shares of the company's stock in a transaction that occurred on 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 directly owns 231,744 shares in the company, valued at approximately $398,599.68. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel Joseph Oconnell sold 47,778 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $836,660.88. This trade represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,526 shares of company stock valued at $233,124. 7.10% of the stock is owned by company insiders.

Institutional Trading of Acumen Pharmaceuticals

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

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.