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

HC Wainwright reiterated their buy rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research note released on Thursday, Benzinga reports. HC Wainwright currently has a $15.00 target price on the stock.

A number of other brokerages have also commented on ABOS. UBS Group decreased their price objective on shares of Acumen Pharmaceuticals from $14.00 to $6.00 and set a buy rating on the stock in a report on Thursday, August 15th. Citigroup upgraded shares of Acumen Pharmaceuticals to a strong-buy rating in a research report on Friday, July 26th.

Acumen Pharmaceuticals Price Performance

Shares of Acumen Pharmaceuticals stock opened at $2.37 on Thursday. Acumen Pharmaceuticals has a 1-year low of $1.81 and a 1-year high of $5.09. The firm’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $3.00. The company has a current ratio of 17.37, a quick ratio of 17.37 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $142.39 million, a price-to-earnings ratio of -2.24 and a beta of 0.07.

Acumen Pharmaceuticals (NASDAQ:ABOS) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). During the same quarter in the previous year, the business earned ($0.28) earnings per share. On average, equities analysts predict that Acumen Pharmaceuticals will post -1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acumen Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ABOS. Gladius Capital Management LP acquired a new position in Acumen Pharmaceuticals during the 2nd quarter valued at about $26,000. SG Americas Securities LLC bought a new stake in shares of Acumen Pharmaceuticals during the third quarter worth approximately $44,000. Chicago Partners Investment Group LLC lifted its holdings in Acumen Pharmaceuticals by 34.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,315 shares of the company’s stock valued at $70,000 after buying an additional 4,736 shares during the period. American Century Companies Inc. boosted its stake in Acumen Pharmaceuticals by 31.3% in the second quarter. American Century Companies Inc. now owns 45,444 shares of the company’s stock valued at $110,000 after acquiring an additional 10,840 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Acumen Pharmaceuticals in the second quarter valued at approximately $127,000. Institutional investors own 71.01% of the company’s stock.

About Acumen Pharmaceuticals

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapies for the treatment of Alzheimer's disease. The company focuses on advancing a targeted immunotherapy drug candidate ACU193, a humanized monoclonal antibody that is in Phase I clinical-stage to target soluble amyloid-beta oligomers.