Acumen Pharmaceuticals (NASDAQ:ABOS) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a report released on Wednesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. 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. Citigroup upgraded shares of Acumen Pharmaceuticals to a “strong-buy” rating in a report on Friday, July 26th.

Acumen Pharmaceuticals Price Performance

ABOS stock opened at $2.53 on Wednesday. The stock has a market cap of $152.00 million, a PE ratio of -1.83 and a beta of 0.04. Acumen Pharmaceuticals has a 12 month low of $2.01 and a 12 month high of $5.09. The company has a 50-day moving average price of $2.61 and a 200 day moving average price of $2.80. 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) last posted 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 previous year, the company earned ($0.24) EPS. Equities research analysts anticipate that Acumen Pharmaceuticals will post -1.32 earnings per share for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position 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 worth $5,030,000 after buying an additional 6,014 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Acumen Pharmaceuticals in the first quarter valued at approximately $4,449,000. Renaissance Technologies LLC purchased a new position in Acumen Pharmaceuticals in the second quarter worth $818,000. Bank of New York Mellon Corp acquired a new position in shares of Acumen Pharmaceuticals during the second quarter worth $306,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Acumen Pharmaceuticals during the first quarter worth $253,000. 71.01% of the stock is currently owned by institutional investors.

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.