Acumen Pharmaceuticals (NASDAQ:ABOS) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other research firms also recently weighed in on ABOS. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research note on Friday, July 26th. UBS Group decreased their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Acumen Pharmaceuticals Trading Down 8.0 %

ABOS opened at $2.40 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 10.43 and a quick ratio of 17.37. The company has a market cap of $144.19 million, a price-to-earnings ratio of -1.74 and a beta of 0.04. The firm has a 50 day simple moving average of $2.62 and a 200 day simple moving average of $2.79. Acumen Pharmaceuticals has a fifty-two week low of $2.08 and a fifty-two week high of $5.09.

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 analysts’ consensus estimates of ($0.36) by ($0.14). During the same period last year, the company earned ($0.24) EPS. On average, sell-side analysts anticipate that Acumen Pharmaceuticals will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD acquired a new position in shares of Acumen Pharmaceuticals in the first quarter valued at approximately $4,449,000. Renaissance Technologies LLC acquired a new position in shares of Acumen Pharmaceuticals in the second quarter valued at approximately $818,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Acumen Pharmaceuticals in the first quarter valued at approximately $253,000. American Century Companies Inc. boosted its holdings in shares of Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after buying an additional 10,840 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Acumen Pharmaceuticals in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

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.