Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 677,900 shares, a growth of 387.0% from the September 15th total of 139,200 shares. Based on an average daily trading volume, of 199,500 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.4% of the shares of the stock are sold short.
ABOS has been the subject of several research reports. Zacks Investment Research downgraded Acumen Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 27th. Bank of America began coverage on Acumen Pharmaceuticals in a research report on Monday, July 26th. They issued a “neutral” rating and a $20.00 target price for the company. UBS Group began coverage on Acumen Pharmaceuticals in a research report on Monday, July 26th. They set a “buy” rating and a $27.00 price objective for the company. Credit Suisse Group began coverage on Acumen Pharmaceuticals in a research report on Monday, July 26th. They set an “outperform” rating and a $26.00 price objective for the company. Finally, Stifel Nicolaus started coverage on Acumen Pharmaceuticals in a research report on Monday, July 26th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Acumen Pharmaceuticals has an average rating of “Hold” and a consensus price target of $25.00.
Acumen Pharmaceuticals stock opened at $14.39 on Thursday. Acumen Pharmaceuticals has a 52 week low of $12.70 and a 52 week high of $26.98. The business’s 50-day simple moving average is $15.85.
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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