Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.00.

ABOS has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Acumen Pharmaceuticals from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th.

Acumen Pharmaceuticals Price Performance

NASDAQ ABOS opened at $2.21 on Tuesday. Acumen Pharmaceuticals has a 52 week low of $0.86 and a 52 week high of $3.36. The company has a current ratio of 5.97, a quick ratio of 5.97 and a debt-to-equity ratio of 0.26. The stock has a market cap of $133.87 million, a price-to-earnings ratio of -0.97 and a beta of 0.20. The company has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.38.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). Analysts forecast that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marex Group plc bought a new position in shares of Acumen Pharmaceuticals in the second quarter valued at approximately $39,000. AQR Capital Management LLC bought a new position in shares of Acumen Pharmaceuticals in the first quarter valued at approximately $46,000. Qube Research & Technologies Ltd boosted its holdings in shares of Acumen Pharmaceuticals by 160.0% in the second quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock valued at $67,000 after acquiring an additional 35,424 shares in the last quarter. Nuveen LLC bought a new stake in Acumen Pharmaceuticals during the first quarter worth approximately $86,000. Finally, Invesco Ltd. boosted its holdings in Acumen Pharmaceuticals by 544.1% during the first quarter. Invesco Ltd. now owns 127,798 shares of the company’s stock worth $141,000 after buying an additional 107,956 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

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.