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

Acumen Pharmaceuticals (NASDAQ:ABOS) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also commented on the stock. Bank of America cut their price target on shares of Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a report on Friday, January 9th. Finally, BTIG Research raised their price target on Acumen Pharmaceuticals from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.80.

Acumen Pharmaceuticals Trading Down 5.5%

Shares of ABOS stock opened at $2.57 on Friday. Acumen Pharmaceuticals has a fifty-two week low of $0.86 and a fifty-two week high of $3.05. The company has a 50 day moving average price of $2.21 and a 200 day moving average price of $1.89. The stock has a market capitalization of $155.66 million, a P/E ratio of -1.16 and a beta of 0.24. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.02 and a current ratio of 6.02.

Insider Activity at Acumen Pharmaceuticals

In other Acumen Pharmaceuticals news, CEO Daniel Joseph Oconnell sold 37,755 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $1.99, for a total transaction of $75,132.45. Following the transaction, the chief executive officer owned 619,982 shares in the company, valued at approximately $1,233,764.18. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 149,818 shares of company stock valued at $285,057. 7.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ABOS. Hudson Bay Capital Management LP lifted its stake in Acumen Pharmaceuticals by 7.1% in 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 lifted its position in shares of Acumen Pharmaceuticals by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 410,206 shares of the company’s stock valued at $866,000 after acquiring an additional 11,428 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Acumen Pharmaceuticals during the third quarter valued at $691,000. Y Intercept Hong Kong Ltd purchased a new stake in Acumen Pharmaceuticals during the 2nd quarter worth about $291,000. Finally, Susquehanna International Group LLP lifted its holdings in Acumen Pharmaceuticals by 26.5% in 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 in the last quarter. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.