Acumen Pharmaceuticals (NASDAQ:ABOS) Receives New Coverage from Analysts at Citigroup

Citigroup initiated coverage on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $7.00 price objective on the stock.

Separately, HC Wainwright reissued a buy rating and set a $15.00 target price on shares of Acumen Pharmaceuticals in a report on Wednesday, May 15th.

Acumen Pharmaceuticals Trading Up 2.1 %

NASDAQ:ABOS opened at $3.48 on Thursday. Acumen Pharmaceuticals has a 12 month low of $1.81 and a 12 month high of $7.62. The firm has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $3.34. The company has a current ratio of 30.20, a quick ratio of 30.20 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $209.08 million, a P/E ratio of -3.28 and a beta of 0.10.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). During the same period last year, the business posted ($0.28) EPS. On average, equities research analysts anticipate that Acumen Pharmaceuticals will post -1.13 earnings per share for the current year.

Institutional Trading of Acumen Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Chicago Partners Investment Group LLC boosted its position in Acumen Pharmaceuticals by 34.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock worth $70,000 after acquiring an additional 4,736 shares during the last quarter. Gladius Capital Management LP acquired a new position in Acumen Pharmaceuticals in the 2nd quarter valued at about $26,000. SG Americas Securities LLC acquired a new position in Acumen Pharmaceuticals in the 1st quarter valued at about $52,000. Citigroup Inc. boosted its holdings in Acumen Pharmaceuticals by 5,423.4% in the 3rd quarter. Citigroup Inc. now owns 38,498 shares of the company’s stock valued at $160,000 after purchasing an additional 37,801 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Acumen Pharmaceuticals in the 1st quarter valued at about $253,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

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.