Acumen Pharmaceuticals (NASDAQ:ABOS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Acumen Pharmaceuticals (NASDAQ:ABOS) from a sell rating to a hold rating in a research note published on Sunday.

ABOS has been the subject of a number of other research reports. Bank of America reduced their target price on Acumen Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Acumen Pharmaceuticals in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.75.

Acumen Pharmaceuticals Stock Down 4.8%

NASDAQ:ABOS opened at $2.17 on Friday. The company has a market cap of $131.44 million, a PE ratio of -0.98 and a beta of 0.25. Acumen Pharmaceuticals has a twelve month low of $0.86 and a twelve month high of $2.46. The company has a current ratio of 6.02, a quick ratio of 6.02 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $1.98 and its two-hundred day moving average is $1.61.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.19. Analysts anticipate that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Institutional Investors Weigh In On Acumen Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP lifted its holdings in shares of Acumen Pharmaceuticals by 7.1% in the 2nd quarter. Hudson Bay Capital Management LP now owns 825,004 shares of the company’s stock valued at $957,000 after buying an additional 55,004 shares during the period. SG Americas Securities LLC purchased a new position in Acumen Pharmaceuticals during the third quarter valued at approximately $691,000. Y Intercept Hong Kong Ltd acquired a new position in Acumen Pharmaceuticals in the second quarter valued at approximately $291,000. Susquehanna International Group LLP boosted its position in Acumen Pharmaceuticals by 26.5% in the 3rd quarter. Susquehanna International Group LLP now owns 214,440 shares of the company’s stock worth $367,000 after purchasing an additional 44,902 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Acumen Pharmaceuticals by 45.4% in the 3rd quarter. Bank of America Corp DE now owns 213,729 shares of the company’s stock worth $365,000 after purchasing an additional 66,720 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Acumen Pharmaceuticals Company Profile

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.