Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Forecasted to Post Q1 2024 Earnings of ($0.26) Per Share

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) – Investment analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Acumen Pharmaceuticals in a report issued on Wednesday, March 27th. HC Wainwright analyst A. Fein forecasts that the company will post earnings per share of ($0.26) for the quarter. HC Wainwright has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Acumen Pharmaceuticals’ current full-year earnings is ($1.39) per share. HC Wainwright also issued estimates for Acumen Pharmaceuticals’ FY2028 earnings at ($1.16) EPS.

Separately, Deutsche Bank Aktiengesellschaft began coverage on Acumen Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $8.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $12.25.

Acumen Pharmaceuticals Price Performance

Shares of ABOS stock opened at $4.10 on Thursday. Acumen Pharmaceuticals has a 12 month low of $1.81 and a 12 month high of $11.31. The company’s fifty day simple moving average is $3.70 and its 200-day simple moving average is $3.52.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ABOS. RA Capital Management L.P. lifted its position in Acumen Pharmaceuticals by 52.8% in the third quarter. RA Capital Management L.P. now owns 14,932,063 shares of the company’s stock valued at $61,968,000 after purchasing an additional 5,161,290 shares during the period. Rock Springs Capital Management LP purchased a new stake in shares of Acumen Pharmaceuticals in the third quarter valued at $11,672,000. Knollwood Investment Advisory LLC acquired a new position in shares of Acumen Pharmaceuticals during the 3rd quarter valued at about $6,758,000. Vanguard Group Inc. boosted its holdings in shares of Acumen Pharmaceuticals by 152.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,856,552 shares of the company’s stock valued at $7,705,000 after purchasing an additional 1,121,700 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Acumen Pharmaceuticals by 23.2% during the first quarter. BlackRock Inc. now owns 3,831,321 shares of the company’s stock worth $14,980,000 after acquiring an additional 721,651 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.

Insider Transactions at Acumen Pharmaceuticals

In related news, insider Derek M. Meisner sold 8,933 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $3.48, for a total value of $31,086.84. Following the transaction, the insider now owns 108,867 shares of the company’s stock, valued at approximately $378,857.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 15,200 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $3.47, for a total transaction of $52,744.00. Following the completion of the sale, the chief executive officer now owns 502,485 shares of the company’s stock, valued at $1,743,622.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Derek M. Meisner sold 8,933 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $3.48, for a total transaction of $31,086.84. Following the sale, the insider now directly owns 108,867 shares in the company, valued at approximately $378,857.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,208 shares of company stock valued at $110,136. 7.50% of the stock is currently owned by corporate insiders.

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.