Short Interest in Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) Expands By 387.0%

Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 677,900 shares, an increase of 387.0% from the September 15th total of 139,200 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average trading volume of 199,500 shares, the days-to-cover ratio is currently 3.4 days.

ABOS opened at $14.39 on Thursday. Acumen Pharmaceuticals has a 12 month low of $12.70 and a 12 month high of $26.98. The stock has a 50-day moving average of $15.85.

Acumen Pharmaceuticals (NASDAQ:ABOS) last announced its earnings results on Sunday, August 15th. The company reported ($7.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($7.74). As a group, analysts expect that Acumen Pharmaceuticals will post -3.86 EPS for the current year.

A number of equities research analysts have commented on ABOS shares. UBS Group started coverage on Acumen Pharmaceuticals in a report on Monday, July 26th. They set a “buy” rating and a $27.00 price target on the stock. Credit Suisse Group started coverage on Acumen Pharmaceuticals in a report on Monday, July 26th. They set an “outperform” rating and a $26.00 price target on the stock. Stifel Nicolaus assumed coverage on Acumen Pharmaceuticals in a report on Monday, July 26th. They set a “buy” rating and a $27.00 price target on the stock. Bank of America assumed coverage on Acumen Pharmaceuticals in a research report on Monday, July 26th. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Zacks Investment Research lowered Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Acumen Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $25.00.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapeutics for the treatment of Alzheimer's and other neurodegenerative diseases. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, which is in Phase I clinical-stage to target soluble amyloid-beta oligomers.

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