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

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.75.

ABOS has been the topic of several recent research reports. Wall Street Zen upgraded Acumen Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Saturday, November 15th. Bank of America lowered their price objective on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Tuesday, October 14th.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several institutional investors have recently modified their holdings of ABOS. Jacobs Levy Equity Management Inc. acquired a new position in shares of Acumen Pharmaceuticals during the third quarter worth $27,000. Marex Group plc purchased a new stake in Acumen Pharmaceuticals during the 2nd quarter worth about $39,000. AQR Capital Management LLC purchased a new stake in Acumen Pharmaceuticals during the 1st quarter worth about $46,000. Qube Research & Technologies Ltd boosted its position in shares of Acumen Pharmaceuticals by 160.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock worth $67,000 after acquiring an additional 35,424 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Acumen Pharmaceuticals in the 1st quarter valued at about $86,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

Acumen Pharmaceuticals Stock Up 0.6%

Shares of NASDAQ ABOS traded up $0.01 during midday trading on Friday, hitting $1.57. The company’s stock had a trading volume of 82,604 shares, compared to its average volume of 230,088. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.02 and a quick ratio of 6.02. The firm has a market capitalization of $95.09 million, a price-to-earnings ratio of -0.71 and a beta of 0.23. The business’s fifty day simple moving average is $1.82 and its two-hundred day simple moving average is $1.46. Acumen Pharmaceuticals has a 1 year low of $0.86 and a 1 year high of $2.47.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.19. On average, equities analysts predict that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

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.