Acumen Pharmaceuticals (NASDAQ:ABOS) Rating Reiterated by HC Wainwright

Acumen Pharmaceuticals (NASDAQ:ABOS)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $15.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. UBS Group lowered 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 Trading Down 0.8 %

Acumen Pharmaceuticals stock opened at $2.37 on Thursday. Acumen Pharmaceuticals has a 1 year low of $1.81 and a 1 year high of $5.09. The firm’s 50-day moving average is $2.67 and its 200-day moving average is $3.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 17.37 and a current ratio of 17.37. The company has a market cap of $142.39 million, a P/E ratio of -2.24 and a beta of 0.07.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). During the same quarter in the prior year, the business earned ($0.28) EPS. On average, equities analysts expect that Acumen Pharmaceuticals will post -1.32 earnings per share for the current year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. 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 bought a new position in Acumen Pharmaceuticals during the 2nd quarter valued at about $818,000. Bank of New York Mellon Corp acquired a new position in shares of Acumen Pharmaceuticals in the 2nd quarter worth approximately $306,000. Parkman Healthcare Partners LLC lifted its position in Acumen Pharmaceuticals by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 603,497 shares of the company’s stock worth $2,317,000 after buying an additional 103,683 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Acumen Pharmaceuticals during the first quarter valued at approximately $253,000. 71.01% of the stock is owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.