Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Update

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 1,050,000 shares, a drop of 15.3% from the March 31st total of 1,240,000 shares. Based on an average trading volume of 341,300 shares, the short-interest ratio is currently 3.1 days. Approximately 2.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Acumen Pharmaceuticals in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new stake in Acumen Pharmaceuticals in the third quarter worth $56,000. Intrepid Financial Planning Group LLC lifted its stake in Acumen Pharmaceuticals by 49.6% in the third quarter. Intrepid Financial Planning Group LLC now owns 30,150 shares of the company’s stock worth $125,000 after acquiring an additional 10,000 shares during the period. Jump Financial LLC purchased a new stake in Acumen Pharmaceuticals in the third quarter worth $141,000. Citigroup Inc. lifted its stake in Acumen Pharmaceuticals by 5,423.4% in the third quarter. Citigroup Inc. now owns 38,498 shares of the company’s stock worth $160,000 after acquiring an additional 37,801 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Acumen Pharmaceuticals in the third quarter worth $167,000. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Stock Up 0.3 %

Shares of Acumen Pharmaceuticals stock opened at $3.18 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 19.01 and a current ratio of 19.01. Acumen Pharmaceuticals has a 52-week low of $1.81 and a 52-week high of $11.31. The stock has a market capitalization of $191.05 million, a price-to-earnings ratio of -2.92 and a beta of 0.09. The company’s 50 day moving average price is $3.85 and its 200-day moving average price is $3.34.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Tuesday, March 26th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.29). Equities research analysts forecast that Acumen Pharmaceuticals will post -1.22 EPS for the current year.

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.