Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) have earned an average recommendation of “Moderate Buy” from the four research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $6.6667.

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research report on Friday, January 9th. BTIG Research reissued a “buy” rating and set a $8.00 price objective on shares of Acumen Pharmaceuticals in a research report on Thursday, March 26th. Finally, Wall Street Zen upgraded Acumen Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday.

Insider Activity at Acumen Pharmaceuticals

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 approximately $1,233,764.18. This represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 149,818 shares of company stock worth $285,057 in the last three months. 7.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. bought a new stake in Acumen Pharmaceuticals in the 3rd quarter valued at $27,000. Marex Group plc bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter worth about $39,000. Independent Advisor Alliance acquired a new position in shares of Acumen Pharmaceuticals during the fourth quarter valued at about $40,000. PFG Investments LLC lifted its stake in shares of Acumen Pharmaceuticals by 65.2% in the fourth quarter. PFG Investments LLC now owns 19,000 shares of the company’s stock valued at $40,000 after buying an additional 7,500 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Acumen Pharmaceuticals in the fourth quarter valued at about $44,000. Institutional investors own 71.01% of the company’s stock.

Acumen Pharmaceuticals Trading Up 7.8%

NASDAQ:ABOS opened at $2.36 on Friday. Acumen Pharmaceuticals has a 12 month low of $0.86 and a 12 month high of $3.60. The firm has a market cap of $170.42 million, a price-to-earnings ratio of -1.17 and a beta of 0.21. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $2.71 and its 200-day moving average is $2.18.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.09. The firm had revenue of ($0.09) million for the quarter. Equities analysts anticipate that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

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.