Acumen Pharmaceuticals (NASDAQ:ABOS) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Acumen Pharmaceuticals (NASDAQ:ABOS) from a strong sell rating to a hold rating in a report issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Bank of America dropped their price target on Acumen Pharmaceuticals from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Acumen Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Acumen Pharmaceuticals Price Performance

Shares of NASDAQ:ABOS opened at $1.73 on Friday. Acumen Pharmaceuticals has a one year low of $0.86 and a one year high of $2.62. The stock has a fifty day moving average of $1.80 and a 200-day moving average of $1.44. The company has a market capitalization of $104.79 million, a PE ratio of -0.78 and a beta of 0.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 5.97 and a current ratio of 6.02.

Acumen Pharmaceuticals (NASDAQ:ABOS) last issued its earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. As a group, equities analysts anticipate that Acumen Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Institutional Trading of Acumen Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ABOS. Invesco Ltd. grew its stake in Acumen Pharmaceuticals by 544.1% in the first quarter. Invesco Ltd. now owns 127,798 shares of the company’s stock valued at $141,000 after purchasing an additional 107,956 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Acumen Pharmaceuticals during the 1st quarter valued at about $86,000. ADAR1 Capital Management LLC lifted its holdings in shares of Acumen Pharmaceuticals by 55.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 146,183 shares of the company’s stock valued at $161,000 after buying an additional 51,889 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Acumen Pharmaceuticals in the 1st quarter valued at approximately $46,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Acumen Pharmaceuticals in the second quarter worth approximately $291,000. 71.01% of the stock is owned by hedge funds and other 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.