Acumen Pharmaceuticals (NASDAQ:ABOS) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Several other research firms have also commented on ABOS. Citigroup raised shares of Acumen Pharmaceuticals to a “strong-buy” rating in a research report on Friday, July 26th. UBS Group reduced their target price on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Acumen Pharmaceuticals Price Performance

Shares of ABOS opened at $2.53 on Wednesday. Acumen Pharmaceuticals has a twelve month low of $2.01 and a twelve month high of $5.09. The company has a market capitalization of $152.00 million, a P/E ratio of -1.83 and a beta of 0.04. The firm has a 50 day moving average of $2.61 and a 200 day moving average of $2.80. The company has a quick ratio of 17.37, a current ratio of 17.37 and a debt-to-equity ratio of 0.12.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). During the same period in the previous year, the firm posted ($0.24) earnings per share. As a group, equities research analysts anticipate that Acumen Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABOS. SG Americas Securities LLC bought a new position in shares of Acumen Pharmaceuticals during the first quarter worth $52,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Acumen Pharmaceuticals in the first quarter worth about $253,000. Price T Rowe Associates Inc. MD bought a new position in Acumen Pharmaceuticals during the first quarter valued at approximately $4,449,000. Gladius Capital Management LP purchased a new position in Acumen Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Acumen Pharmaceuticals during the 2nd quarter valued at approximately $306,000. 71.01% of the stock is owned by hedge funds and other institutional investors.

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.