Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Short Interest Up 50.1% in January

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 900,167 shares, a growth of 50.1% from the January 15th total of 599,667 shares. Based on an average daily volume of 2,325,666 shares, the short-interest ratio is presently 0.4 days. Currently, 1.6% of the company’s stock are sold short. Currently, 1.6% of the company’s stock are sold short. Based on an average daily volume of 2,325,666 shares, the short-interest ratio is presently 0.4 days.

Acumen Pharmaceuticals Trading Up 5.0%

ABOS stock traded up $0.12 during trading on Friday, reaching $2.51. The company had a trading volume of 281,833 shares, compared to its average volume of 1,364,028. The business has a 50 day moving average of $2.15 and a 200 day moving average of $1.84. 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 company has a market cap of $152.03 million, a P/E ratio of -1.13 and a beta of 0.24. Acumen Pharmaceuticals has a 52 week low of $0.86 and a 52 week high of $3.05.

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

Wall Street Analyst Weigh In

A number of research firms have commented on ABOS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Friday, January 9th. BTIG Research upped their target price on Acumen Pharmaceuticals from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen lowered shares of Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Bank of America lowered 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. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.80.

Insider Buying and Selling

In other news, CEO Daniel Joseph Oconnell sold 37,755 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total value of $75,132.45. Following the completion of the sale, the chief executive officer directly owned 619,982 shares of the company’s stock, valued at $1,233,764.18. This represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 149,818 shares of company stock valued at $285,057 over the last ninety days. Company insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP lifted its position in shares of Acumen Pharmaceuticals by 7.1% during the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock valued at $957,000 after buying an additional 55,004 shares in the last quarter. Geode Capital Management LLC raised its stake in Acumen Pharmaceuticals by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 410,206 shares of the company’s stock worth $866,000 after acquiring an additional 11,428 shares during the period. SG Americas Securities LLC bought a new position in shares of Acumen Pharmaceuticals in the third quarter worth approximately $691,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Acumen Pharmaceuticals in the second quarter worth $291,000. Finally, Susquehanna International Group LLP raised its position in shares of Acumen Pharmaceuticals by 26.5% during the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock valued at $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.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of oral small molecule therapies for neurodegenerative diseases. Leveraging a proprietary drug discovery platform that integrates chemoproteomics, high-throughput screening and computational chemistry, the company seeks to identify and optimize compounds that selectively modulate pathological protein aggregation. Its approach is designed to address the underlying biology of conditions such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis and related proteinopathies.

The company’s pipeline comprises multiple lead candidates at various stages of preclinical and early clinical development.