Acumen Pharmaceuticals (NASDAQ:ABOS) Stock Rating Lowered by Wall Street Zen

Acumen Pharmaceuticals (NASDAQ:ABOS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Tuesday, October 14th. Bank of America cut their price target on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.75.

Acumen Pharmaceuticals Stock Performance

Acumen Pharmaceuticals stock opened at $2.14 on Friday. Acumen Pharmaceuticals has a 1-year low of $0.86 and a 1-year high of $2.46. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $129.62 million, a PE ratio of -0.96 and a beta of 0.25. The firm’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $1.56.

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

Institutional Trading of Acumen Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new position in Acumen Pharmaceuticals during the third quarter valued at approximately $27,000. Marex Group plc purchased a new stake in shares of Acumen Pharmaceuticals in the 2nd quarter valued at $39,000. Qube Research & Technologies Ltd boosted its stake in shares of Acumen Pharmaceuticals by 160.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 57,559 shares of the company’s stock valued at $67,000 after purchasing an additional 35,424 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Acumen Pharmaceuticals during the 1st quarter valued at $46,000. Finally, Susquehanna International Group LLP raised its position in Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock worth $367,000 after purchasing an additional 44,902 shares during the period. Hedge funds and other institutional investors own 71.01% of the company’s stock.

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.